MSB Registration & Compliance

MSB Compliance in Canada Guide

Complete guide to MSB registration, compliance obligations, penalties, training requirements, and how Comply+ ensures full regulatory compliance for Canadian money services businesses.

MSB Compliance Process

1

Register with FINTRAC

Complete MSB registration before starting operations

2

Develop Compliance Program

Create policies, procedures, and risk assessment

3

Implement CDD Procedures

Establish customer identification and verification

4

Setup Ongoing Monitoring

Monitor transactions and file required reports

FINTRAC Penalties for Non-Compliance

Common Violations & Penalties

Operating without registration
Very Serious
Up to $500,000
Failure to file STR
Very Serious
Up to $500,000
Inadequate record-keeping
Serious
Up to $100,000
Failure to verify customer ID
Minor
Up to $10,000

MSB Registration & Compliance FAQ

Complete MSB Compliance

Ensure Full MSB Compliance with Comply+

From registration support to ongoing compliance management, Comply+ provides everything Canadian MSBs need to meet all regulatory requirements.