Category Archives: Uncategorised

Attention all MSBs that are now considered Payment Services Providers, not to miss a session in English and French FINTRAC information session for money services businesses engaged in providing payment services (canada.ca)

This year's session will be held over 2 days, with the first day for Virtual FRENCH session in AM, and workshops in PM, and a full 2nd day. The Canadian MSB Association Fall Conference is back! The Fall Conference will take place over two days and will give participants a chance to learn and find…

Chargebacks are a complicated matter when they happen nowadays given that there has been a liability shift from the merchant to the issues in most cases due to the use of 3D Secure, EMN, TAP and PIN, as well as things like Interac e-transfers, Pre-authorized Debit, and wallet providers. This shift still hasn’t stopped most…

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NEW REGULATOR FOR MSBs IN QUEBEC: As of September 13, 2021 the Autorité des marchés financiers has ceased to deal with MSB applications and other MSB oversight matters, as this responsibility has been transferred to Revenue Quebec (RQ). Some information on the revised MSB license application process (including new forms) is available on RQ’s website…

June 1, 2021, has come and gone and while many of the RE's and MSBS have felt the relief for implementing changes by Dec1, 2021, it doesn’t mean that they should be resting on our laurels. In this session, we will be discussing the coming into force for the LVCTR, EFT changes, and Travel Rule,…

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Recent FINTRAC exams challenges on Reasonable Grounds to Suspect

On May 4, 2021, FINTRAC published its “Publication of updated and new guidance” that referenced webpage updates on Compliance Program Requirements, 3rd Party, PEP FAQ, reporting, FMSB, and so much more.  Through a CMSBA request and response from FINTRAC, those that were most important are listed below.  As a Regulated Entity, it would be wise to read these…

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