Four common failures in MSB registration. Documentation errors when submitting an application. Critical mistakes after receiving registration.
MSB — anti-money laundering, PSP — operational stability. 08.09.2025 — a turning point for fintech. FINTRAC plus the Bank of Canada. Practical scenarios: payment processors, digital wallets, crypto exchanges.
Reputational and financial risks of working with illegal MSBs. Regulatory requirements for partner due diligence. How to use the public MSB register: step-by-step instructions. What do registration statuses mean and how should they be interpreted? What should you pay attention to when checking a partner?
FinCEN vs FINTRAC — different approaches to supervision. Federal vs centralized regulatory model. MSB registration in the USA — a multi-level system. MSB registration in Canada — a simplified approach. Comparative table of requirements.
Obligation to reconcile data with the Corporations Canada registry. Definition of a high-risk client and review triggers. What is the register of individuals with significant control (ISC), and how do you work with it? Step-by-step process for submitting a discrepancy report. What counts as a material discrepancy? Risks of non-compliance and practical solutions.
Who can be an agent for MSB? New October 2025 rules for verifying corporate clients. Procedure for appointing an agent to verify corporations. Oversight and responsibility of MSB for agents' work. Practical steps for MSB: implementation checklist. Penalties and consequences of non-compliance.
The scale of the problem of laundering through white-label ATM. Gaps in the title insurance sector. Registration as an MSB: step-by-step instructions. Five elements of a compliance program. Financial and reputational risks of noncompliance.
What has changed for MSB? The difference between SEMA and the Magnitsky Act. What property is subject to reporting? The procedure for filing the LPEPR report. Penalties and liability for violations. Practical steps for MSB.
Difference between registration and license. How to check a company’s status in the registry? Data export for due diligence. Renewal of registration every two years. Updating company information.
Definition of non-presenting parties. Differences from the standard procedure. Methods of identity verification. Documentation and archiving. Complex cases.
