Financial Services & Restructuring Communiqué

A pen sits over top a budget sheet

November 30, 2022

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Regulating money service businesses in Canada: The not so well known money service business regime

P. Jason Kroft, Ahmad Adam, Chloe Kyrtsakas

The Proceeds of Crime (Money Laundering) and Terrorist Financing Act (the “PCMLTFA”) and its related regulations govern money service businesses (“MSBs”) in Canada. MSBs are regulated by the Financial Transactions and Reports Analysis Centre (“FINTRAC”). FINTRAC defines an MSB as...

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