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Compliance insights for MSBs

Practical, plain-English guides on FINTRAC, the RPAA, AML programs, KYC, and banking, written by people who do this daily.

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How MSBs Can Protect Themselves with Third Party Determination Rules
Compliance

How MSBs Can Protect Themselves with Third Party Determination Rules

When you run a Money Services Business (MSB) in Canada, you are not only moving money for clients, you are also on the frontlines of detecting financial crime. One of the most impor

December 17, 2025 4 min read
How MSBs Can Master KYC for Entities and Beneficial Ownership
KYC & EDD

How MSBs Can Master KYC for Entities and Beneficial Ownership

When you open an account for a business client, the process is not as simple as asking for a driver’s license. For Money Services Businesses (MSBs) in Canada, Know Your Client (KYC

December 10, 2025 4 min read
KYC for Individuals: A Practical Guide for Canadian MSBs
KYC & EDD

KYC for Individuals: A Practical Guide for Canadian MSBs

For Money Services Businesses (MSBs) in Canada, knowing your customer (KYC) is not just good practice, it is the law. FINTRAC requires MSBs to verify customer identities in specific

December 3, 2025 4 min read
The Practical Guide to Building a Risk-Based Approach for Canadian MSBs
AML Program

The Practical Guide to Building a Risk-Based Approach for Canadian MSBs

Running a Money Services Business (MSB) in Canada comes with clear obligations under FINTRAC rules, and one of the most important is building a strong risk-based approach (RBA). Ma

November 26, 2025 5 min read
The Ultimate Guide to Building an MSB Compliance Program: FINTRAC Guide 4 Explained
FINTRAC

The Ultimate Guide to Building an MSB Compliance Program: FINTRAC Guide 4 Explained

Running a Money Services Business (MSB) in Canada means more than just moving money. It means taking responsibility for keeping the financial system safe from money laundering and

November 19, 2025 5 min read
FINTRAC MSB Registration in Canada: Your Complete Step-by-Step Guide
FINTRAC

FINTRAC MSB Registration in Canada: Your Complete Step-by-Step Guide

Starting a money services business (MSB) in Canada is exciting, but before you can move a dollar, you need to deal with your first regulatory requirement, FINTRAC MSB registration.

November 12, 2025 4 min read
How the Bank of Canada Supervises RPAA Compliance (and What They Expect to See)
RPAA

How the Bank of Canada Supervises RPAA Compliance (and What They Expect to See)

For payment service providers (PSPs) and money services businesses (MSBs) in Canada, the Retail Payment Activities Act (RPAA) sets the rules of the road. But writing policies is on

November 4, 2025 4 min read
Common Pitfalls MSBs Face With RPAA Safeguarding of Funds Rules
RPAA

Common Pitfalls MSBs Face With RPAA Safeguarding of Funds Rules

Safeguarding customer money is one of the most important obligations under the Retail Payment Activities Act (RPAA). The Bank of Canada supervises these rules to ensure that end-us

October 28, 2025 4 min read
PSP Connect and RPAA Compliance: How to Submit Reports and Notices Online
RPAA

PSP Connect and RPAA Compliance: How to Submit Reports and Notices Online

Payment service providers (PSPs) in Canada now have a central tool for meeting their reporting obligations under the Retail Payment Activities Act (RPAA): the Bank of Canada’s PSP

October 21, 2025 4 min read
RPAA Training Requirements: Who Needs to Be Trained and How Often
RPAA

RPAA Training Requirements: Who Needs to Be Trained and How Often

Staff training is a cornerstone of compliance under the Retail Payment Activities Act (RPAA). The law requires payment service providers (PSPs) and money services businesses (MSBs)

October 14, 2025 4 min read
How to Use a Compliance Checklist to Stay RPAA-Ready Year Round
RPAA

How to Use a Compliance Checklist to Stay RPAA-Ready Year Round

Payment service providers (PSPs) and money services businesses (MSBs) face a growing set of regulatory expectations under the Retail Payment Activities Act (RPAA) and the Retail Pa

October 7, 2025 4 min read
October 1st 2025: MSB Agents and Beneficial Ownership Update
KYC & EDD

October 1st 2025: MSB Agents and Beneficial Ownership Update

Running a money services business (MSB) in Canada is already complex, but as of October 1, 2025, the rules are tightening even further. The Financial Transactions and Reports Analy

October 1, 2025 4 min read
Independent Reviews Under the RPAA: What You Need to Know Every Three Years
RPAA

Independent Reviews Under the RPAA: What You Need to Know Every Three Years

Independent reviews are one of the most important parts of staying compliant with the Retail Payment Activities Act (RPAA). Every three years, payment service providers must arrang

September 30, 2025 3 min read
RPAA Explained in Plain English: A Beginner’s Guide for Payment Service Providers
RPAA

RPAA Explained in Plain English: A Beginner’s Guide for Payment Service Providers

The Retail Payment Activities Act (RPAA) is Canada’s new law for payment service providers (PSPs). It was created to make sure payment companies operate safely, protect customer fu

September 26, 2025 4 min read
RPAA vs FINTRAC: How Retail Payment Rules Differ from AML Obligations
RPAA

RPAA vs FINTRAC: How Retail Payment Rules Differ from AML Obligations

For many money services businesses and payment service providers in Canada, the Retail Payment Activities Act (RPAA) has raised the question: is this just another layer of anti-mon

September 23, 2025 4 min read
RPAA Deadlines You Cannot Miss in 2025 (and How to Prepare Now)
RPAA

RPAA Deadlines You Cannot Miss in 2025 (and How to Prepare Now)

Payment service providers and money services businesses face a busy year ahead. The Retail Payment Activities Act (RPAA) and its regulations bring in new compliance obligations tha

September 19, 2025 4 min read
How to Classify Assets and Processes for RPAA Compliance (Step-by-Step)
RPAA

How to Classify Assets and Processes for RPAA Compliance (Step-by-Step)

Classifying your company’s assets and processes is one of the most important steps in meeting the requirements of the Retail Payment Activities Act (RPAA). The Bank of Canada expec

September 17, 2025 4 min read
Business Continuity and Disaster Recovery Under the RPAA: Key Requirements
RPAA

Business Continuity and Disaster Recovery Under the RPAA: Key Requirements

When people think of business continuity and disaster recovery, they often picture large banks with complex infrastructure. But under the Retail Payment Activities Act (RPAA), thes

September 14, 2025 4 min read
Significant Change Notices: What PSPs Need to Tell the Bank of Canada (and When)
RPAA

Significant Change Notices: What PSPs Need to Tell the Bank of Canada (and When)

The Retail Payment Activities Act (RPAA) and its supporting regulations require payment service providers (PSPs) to notify the Bank of Canada when they make significant changes to

September 12, 2025 4 min read
RPAA Record Keeping Rules: How Long Must MSBs Keep Compliance Records?
RPAA

RPAA Record Keeping Rules: How Long Must MSBs Keep Compliance Records?

Record keeping is one of the most important compliance obligations for money services businesses (MSBs) and payment service providers (PSPs) under the Retail Payment Activities Act

September 10, 2025 4 min read
ALERT: Private ABM Acquirer Services Must Register with FINTRAC and Comply by October 1, 2025
FINTRAC

ALERT: Private ABM Acquirer Services Must Register with FINTRAC and Comply by October 1, 2025

Introduction: FINTRAC Expands AML Rules to Private ABM Acquirers On October 1, 2025, private automated banking machine (ABM) acquirers will become subject to the Proceeds of Crime

September 9, 2025 5 min read
Title Insurers Must Register with FINTRAC by October 1, 2025 – AML Compliance Now Mandatory
FINTRAC

Title Insurers Must Register with FINTRAC by October 1, 2025 – AML Compliance Now Mandatory

Introduction: FINTRAC Brings Title Insurers Under PCMLTFA Beginning October 1, 2025, title insurers in Canada will be subject to the Proceeds of Crime (Money Laundering) and Terror

September 9, 2025 4 min read
How to File Your Annual Report Under the Retail Payment Activities Act
RPAA

How to File Your Annual Report Under the Retail Payment Activities Act

Filing your annual report under the Retail Payment Activities Act (RPAA) may feel like a heavy lift, but it does not have to be. The Bank of Canada has laid out clear expectations

September 8, 2025 4 min read
RPAA Compliance Checklist: Everything Canadian PSPs Must Do by 2025
RPAA

RPAA Compliance Checklist: Everything Canadian PSPs Must Do by 2025

Introduction The Canadian payments industry is undergoing a major shift. The Retail Payment Activities Act (RPAA) and its supporting regulations set new requirements for payment se

September 8, 2025 4 min read
RPAA Incident Reporting Explained: When and How to Notify the Bank of Canada
RPAA

RPAA Incident Reporting Explained: When and How to Notify the Bank of Canada

If your business provides payment services in Canada, knowing how to handle incidents under the Retail Payment Activities Act (RPAA) is essential. The Bank of Canada expects paymen

September 8, 2025 4 min read
Safeguarding End-User Funds Under RPAA: A Practical Guide for MSBs
RPAA

Safeguarding End-User Funds Under RPAA: A Practical Guide for MSBs

Keeping customer money safe is at the heart of Canada’s Retail Payment Activities Act (RPAA). For money services businesses (MSBs) and other payment service providers (PSPs), the r

September 8, 2025 4 min read
What Is a Risk Management and Incident Response (RMIR) Framework Under RPAA?
RPAA

What Is a Risk Management and Incident Response (RMIR) Framework Under RPAA?

A Risk Management and Incident Response (RMIR) framework is one of the cornerstones of the Retail Payment Activities Act (RPAA) and the supporting Retail Payment Activities Regulat

September 8, 2025 4 min read
What Is the Retail Payment Activities Act and Why Does It Matter for MSBs?
RPAA

What Is the Retail Payment Activities Act and Why Does It Matter for MSBs?

Introduction In recent years, Canada’s payment ecosystem has grown rapidly with the rise of digital wallets, remittance apps, and fintech innovations. While this growth creates opp

September 8, 2025 5 min read

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