Currency exchange, made simple.

FX sits squarely inside FINTRAC’s rules. We handle registration, KYC, and reporting, and keep you audit-ready and banked, so you can focus on the rates.

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Why currency exchange businesses choose us

100% MSB approval guarantee, or your money back
Direct, known relationships with FINTRAC
Up to 50% below typical consultant fees
A named CCO who knows your sector

How we help currency exchange businesses

One team, from registration to fully compliant

Get your MSB registered

Full-service FINTRAC registration or renewal for currency dealers, drafted, submitted, and managed end to end with a 100% approval guarantee.

A dedicated Chief Compliance Officer

We become your named, fractional CCO, running your AML program day to day for a fraction of a full-time hire. Ongoing advisory, reporting, and audit-readiness, without another salary on payroll.

Stay audit-ready year-round

Transaction monitoring, sanctions screening, and reporting workflows built for FX, kept current as the rules change so an exam is never a surprise.

The reality for currency exchange businesses

Your challenges, solved

The challenges you face

Sanctions risk you can’t see

Cross-border USD flows hit correspondent-bank screening. Many FX MSBs lose banking because they don’t screen high-risk corridors.
KYC failures are the number-one fine

FINTRAC issued a record number of KYC-violation notices in 2024–25, tens of millions in penalties. FX dealers are squarely in scope.
Banking is hard to get and keep

FX is treated as high-risk. Correspondent screening and cautious banks mean currency dealers lose accounts with little warning.
FINTRAC is targeting cash-intensive businesses

Currency dealers handle cash and sit high on FINTRAC’s risk radar, which means more scrutiny and a higher bar for your program.

How Comply North helps

Sanctions and corridor screening built in

We build sanctions, PEP, and country-risk screening that keeps correspondent banks comfortable.
Airtight KYC

Onboarding and monitoring designed to pass the exact KYC tests FINTRAC is now fining people over.
We secure and protect your banking

A bank-ready file and MSB-friendly introductions built to win FX banking, and keep it.
All the pillars of support

A complete, examinable AML program, every mandatory pillar covered, so extra FINTRAC scrutiny is nothing to fear.

All of it at a fraction of the cost, usually up to 50% below other consultants.

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What you’ll walk away with

A registered, defensible, bank-ready compliance operation, run by experts, so you can get back to running your business.

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Registered and compliant FX operation
KYC and reporting that survives a FINTRAC exam
A dedicated CCO on call
Bank relationships that last

FAQ

Currency Exchange compliance questions

Does a currency exchange need to register with FINTRAC?

Yes. Currency dealers who exchange one currency for another are money services businesses (MSBs) and must register with FINTRAC and maintain a full AML compliance program.

Why do FX businesses lose their banking?

Cross-border and USD flows trigger correspondent-bank screening, and cautious banks de-risk FX. We build sanctions and corridor screening plus a bank-ready file to keep your accounts open.

What are the biggest FINTRAC risks for FX dealers?

KYC failures and sanctions gaps are the most-fined issues. We build onboarding, monitoring, and sanctions screening designed to pass a FINTRAC examination.