Anti-Money Laundering (AML) Strategies

AML/Compliance Advisory

Benefit from our expert compliance guidance, grounded in a deep understanding of Canada's regulatory and business landscape. Benefit from customized solutions designed to meet your specific needs and objectives. Enjoy a full range of services from initial assessment to ongoing compliance and banking partnership management.

Services Offered:

1. MSB Registration

   • Guidance on Registration Process: Assist with the complete setup and registration process for Money Services Businesses (MSB) with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).

   • Compliance Planning: Develop compliance programs tailored to meet FINTRAC’s regulatory requirements, ensuring your business adheres to all legal obligations.

   • Ongoing Support: Provide ongoing support and advice to maintain compliance status and respond to any regulatory changes or audits.

2. AML (Anti-Money Laundering) Services

   • Risk Assessment: Conduct detailed risk assessments to identify potential vulnerabilities to money laundering and terrorist financing within your operations.

   • Policy Development: Create and implement robust AML policies and procedures to mitigate identified risks and ensure compliance with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA).

   • Training Programs: Design and deliver comprehensive employee training to ensure all team members understand their AML responsibilities and the latest regulatory requirements.

3. RPAA Registration and Supervision

   • RPAA Application Assistance: Guide your business through the registration process under the Retail Payment Activities Act, ensuring compliance with the requirements set by the Bank of Canada.

   • System Reviews: Evaluate and review your payment systems and processes to ensure they meet the standards required for RPAA compliance.

   • Ongoing Monitoring and Reporting: Implement ongoing monitoring systems to comply with RPAA regulations and handle all necessary reporting to regulatory bodies.

4. Strategic Partnership Development

   • Market Analysis: Perform market analysis to identify potential banking partnership opportunities that align with your strategic business goals.

   • Partnership Frameworks: Develop frameworks for partnership that outline roles, responsibilities, and objectives, ensuring clarity and mutual benefit.

   • Negotiation and Implementation: Lead negotiations and manage the implementation of banking partnerships, focusing on creating value for both parties and maintaining alignment with strategic goals.