AML &amp; regulatory compliance, clearly explained

Independent BSA/AML Audit Checklist for U.S. MSBs: 31 CFR § 1022.210(d)(4) Testing

Use this independent BSA/AML audit checklist to see what U.S. MSBs should test under 31 CFR § 1022.210(d)(4), from controls to transaction testing.

September 16, 2026

29 min read

How Much Does an Independent FINTRAC AML Audit Cost? Scope & Pricing Factors

How much does a FINTRAC AML audit cost? See the scope, testing, transaction volume, and risk factors that drive effectiveness-review pricing in Canada.

September 16, 2026

California DFAL vs Money Transmitter License: Does a Crypto Business Need Both?

See when a California crypto business may need a DFAL license, a money transmitter license, both, or neither under the final 2026 DFPI rules.

September 15, 2026

Enforcement

Commerciale I.C.-Pacific FINTRAC Penalty: 5 Lessons for Canadian MSBs

FINTRAC imposed a $224,235 penalty on Commerciale I.C.-Pacific Inc. for five compliance violations. See the practical lessons Canadian MSBs should review.

September 15, 2026

XTM Inc. & the RPAA: What the Bank of Canada Compliance Order Means for PSPs

What the Bank of Canada's XTM Inc. temporary orders show about RPAA supervision, end-user fund safeguarding and ongoing compliance for Canadian PSPs.

September 14, 2026

Received a FINTRAC Invoice? How Assessment of Expenses Charges Are Calculated

A practical guide to FINTRAC Assessment of Expenses invoices, including the 500-report threshold, interim and final adjustments, calculation method, payment timing and worked examples.

September 14, 2026

Enforcement

Necosmart FINTRAC Penalty: 5 Compliance Failures Canadian MSBs Should Review

FINTRAC imposed a $693,742.50 penalty on Necosmart after identifying five compliance violations. See the findings and practical lessons for Canadian MSBs.

September 12, 2026

8 min read

5 AML Compliance Requirements Canadian Credit Unions Should Review in 2026

Five practical FINTRAC review areas Canadian credit unions should check in 2026, including risk assessment, KYC, reporting, governance and effectiveness reviews.

September 11, 2026

12 min read

BOI Reporting Requirements 2026: Who Still Has to File?

FinCEN’s August 2026 final rule permanently exempted U.S. companies from BOI reporting. Here’s who still has to file, what changed, and what businesses should do now.

September 11, 2026

FINTRAC Extortion Red Flags 2026: Money Laundering Indicators Canadian MSBs Should Monitor

FINTRAC's 2026 extortion bulletin: the money laundering red flags Canadian MSBs should review in transaction monitoring, escalation and STR reporting.

September 8, 2026

Canadian Sanctions Against Iran and FINTRAC Requirements: What MSBs Need to Know in 2026

Canadian sanctions against Iran and the FINTRAC requirements MSBs must follow for Iran-linked transactions, including high-risk treatment, CDD and reporting.

FATF Grey List 2026: What Canadian MSBs Need to Review After the Latest Update

The latest FATF grey list update, countries added and removed, and what FINTRAC-regulated Canadian MSBs should review in their AML risk framework.

Cheque Cashing AML Requirements in Canada: FINTRAC Compliance Guide

FINTRAC compliance for Canadian cheque cashers: MSB registration, the $3,000 identity and recordkeeping rule, AML programs and STR obligations.

Why One Bank's CDD Approval Doesn't Guarantee Another

Why the same Canadian MSB can receive different banking outcomes, and how bank risk appetite, customer acceptance policies and non-portable CDD reviews shape each decision.

KYC vs KYB vs CDD: What MSBs Need to Know Before Approaching a Banking Partner

Understand the difference between KYC, KYB and CDD, how each fits into a Canadian MSB banking review, and what to have ready before approaching a financial institution.

September 5, 2026

9 min read

Why Financial Institutions May Outsource MSB Due Diligence, and What That Means for Your MSB

Why a financial institution may use a third party for parts of an MSB due diligence review, what that party's role typically covers, and what stays with the institution regardless.

September 5, 2026

8 min read

AML Transaction Monitoring: How It Works, Process, Rules & Red Flags

A practical guide to AML transaction monitoring, including workflows, rules, alerts, red flags, tuning, testing, governance, and FINTRAC/BSA expectations.

September 1, 2026

17 min read

What a CDD Review Actually Involves (And Why MSBs Need One Before They Bank)

What happens when a bank reviews your MSB before opening an account: entity structure, ownership, screening and jurisdiction exposure, and how to prepare before you apply.

September 1, 2026

9 min read

FINTRAC Reporting Requirements: Reports, Thresholds, Deadlines & Filing Rules

A complete overview of FINTRAC reporting requirements in Canada: every report type, threshold, filing deadline and where to find detailed guidance for each one.

August 31, 2026

FATF's 2026 Stablecoin & Unhosted Wallet Report: P2P AML Risks, Controls & Red Flags

What FATF’s 2026 report says about stablecoin and unhosted-wallet risks, P2P activity, red flags, and practical AML controls for issuers and VASPs.

August 31, 2026

Three Lines of Defense Model in AML Compliance: Roles & Responsibilities

The Three Lines of Defense (now the IIA's Three Lines Model) explained for AML: roles, who owns risk, FINTRAC and BSA mapping, and a practical MSB example.

August 30, 2026

Enhanced Due Diligence (EDD): Meaning, Requirements & Process

Enhanced Due Diligence (EDD) explained: definition, CDD vs EDD, when it's required in Canada and the U.S., a practical process, checklist, and questionnaire.

August 28, 2026

15 min read