armoured car companies
Does your business engage in activities like transporting currency, money orders or travellers cheques?
Well, guess what? Your business is now considered an armoured car business, even if it doesn’t have armoured cars. This means that you’re responsible for registering with and reporting to FINTRAC.
Your basic requirements under FINTRAC include:
1. A Compliance Program
2. Transaction Reporting
3. KYC protocols and client identification
4. Record Keeping
5. Third Party Determination
Now is the time to get ahead of this, as non-compliance can result in severe monetary penalties and even worse, potential reputational damage which can cost you customers.
At The AML Shop, we help keep regulators like FINTRAC happy and can help you design an anti-money laundering compliance plan. Reach out to an AML expert today at contactus@theamlshop.ca or fill in the below form and an expert will be in touch to discuss.
KEY CONTACTS
Marcelle Dadoun - Principal, Program Design and Advisory
marcelle@theamlshop.ca
LinkedIn
Marcelle Dadoun, Principal, Program Design and Advisory leads The AML Shop's compliance program design division and provides advisory support to all reporting types, including new and evolving money services businesses, payment service providers and fintech clients looking to navigate local and international regimes for registration, licensing, and regulations. Additionally, she has developed and currently leads the Retail Payment Activities Act (RPAA) program division at The AML Shop. Read more.
Adam Feldman - Principal, Risk Management and Technology
adam@theamlshop.ca
LinkedIn
Adam Feldman leads The AML Shop's risk management and technology divisions as Principal, Risk Management and Technology. As an experienced process engineer, Adam has a passion and talent for understanding, quantifying, and implementing efficient mitigation systems and processes across multiple industries and jurisdictions. Adam helps The AML Shop’s clients right size and optimize their compliance systems, processes and staffing, leveraging a toolbox of technology solutions. Read more.
Reach out to an AML Expert.
QUICK LINKS