MSB registration in Canada
Money Service Businesses (MSBs) are businesses offering services such as foreign exchange dealing, money transmitting, or digital assets dealing. In Canada, they must comply with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA).
Also, before starting operations, MSBs must register their business with the Financial Transaction and Reports Analysis Centre (FINTRAC). Their applications must contain information on the company's bank account, compliance officer, employees, etc.
From wallet screening and KYT monitoring to deep-dive investigations, Scorechain gives you everything you need to stay compliant, secure, and audit-ready.
