Articles — Maplebiz

What Is an MSB in Canada and Who Needs It?

Understanding money services businesses in Canada. Who needs an MSB license in Canada? Why registering as an MSB is important. How to obtain an MSB license (registration process).

Complete Guide to MSB Registration with FINTRAC in 2025

What is FINTRAC and why MSB registration is mandatory. 2025 update: FINTRAC’s new pre-registration stage. Step-by-step FINTRAC MSB registration process. Required documents for MSB registration (details). Common mistakes to avoid during MSB registration.

The Five Pillars of MSB Compliance in Canada: Officer, Policies, Risk, Training, Review

Overview of the five pillars of the AML compliance program:

Compliance officer – appointment and qualifications.
Written compliance policies and procedures.
Risk assessment – understanding and mitigating your risks.
Training program – ongoing AML training for staff.
Effectiveness review (independent audit) – testing your program.

FMSB: When a Foreign Business Must Register in Canada

MSB vs. FMSB: what’s the difference? The legal test: “directing services at persons in Canada”. When FMSB registration is required (who needs to register). Registration process for FMSBs. Common mistakes to avoid.

Large Virtual Currency Transaction Report (LVCTR): What Canadian MSBs Need to Know

What is an LVCTR and who must file it? The $10,000 threshold and the 24-hour aggregation rule. Types of transactions that trigger an LVCTR. Identification and recordkeeping requirements for LVCTR. How to file an LVCTR via FINTRAC’s reporting system (step by step).