Bill C-12 — What Canadian MSBs Need to Know in 2026
FINTRAC penalties have increased 40x. Here is what every registered MSB must do now.
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PCMLTFA · FINTRAC · Bill C-12 specialists
Fractional MLRO, independent AML audit, and MSB compliance services — for Canadian businesses registered with FINTRAC.
ComplyFactor provides AML compliance services to regulated businesses across Canada — from independent FINTRAC effectiveness reviews to fractional MLRO leadership and MSB registration support.
FINTRAC effectiveness review — written report, severity-rated findings, remediation roadmap.
Senior MLRO expertise on a flexible basis — PCMLTFA reporting obligations covered.
Outsourced compliance officer for Canadian MSBs and PSPs — FINTRAC ready.
End-to-end FINTRAC MSB registration support — from application to first compliance review.
Risk-based AML program design for Canadian businesses — PCMLTFA 5 pillars covered.
Strategic AML guidance from Canada-based specialists — FINTRAC examination prep.
We are a specialist AML compliance firm — not a generalist accounting firm, not a law firm, not a software platform. We focus on one thing: helping Canadian MSBs, PSPs, and fintechs stay compliant with FINTRAC.
We serve regulated businesses across Canada — Ontario, BC, Alberta, Quebec, and beyond. Remote-first delivery means no geographic limits.
Our services are built around Canadian AML law — not adapted from UK or US frameworks. We know FINTRAC's examination approach from the inside.
We work exclusively with the businesses FINTRAC focuses on most: MSBs, PSPs, VASPs, and fintechs. Not banks. Not insurance. Not accountants.
Every engagement includes a written audit report or deliverable — structured for senior management and suitable for regulatory purposes.
We do not just identify problems. We provide prioritised action plans and can support your team in implementing the fixes.
We work with Canadian businesses registered with FINTRAC as reporting entities — required to maintain an AML compliance program under the PCMLTFA.
Currency exchange, remittance, cheque cashing.
RPAA-regulated payment firms.
FINTRAC-registered virtual asset firms.
New FINTRAC obligation — April 2026.
Finance and leasing companies are now subject to full FINTRAC AML obligations. If your business falls in this category, ComplyFactor can help you establish your compliance program and arrange your first independent review.
Talk to usBill C-12 introduced the most significant increase to FINTRAC penalties in Canadian history. Serious AML violations now carry fines of up to $4,000,000. FINTRAC's educational grace period ended April 1, 2026 — full examinations are now active across all regulated sectors.
Book your independent reviewAs a fast-moving fintech infrastructure platform, we needed compliance support that could match the pace and complexity of our business. ComplyFactor gave us a clear, practical framework for AML, KYB/KYC, risk controls and regulatory readiness — without slowing down our operations.
Had an awesome experience working with Saeed and the team at ComplyFactor. They were very thorough with the AML audit and helpful with getting things done right and on time — will recommend anytime.
Each consultant brings years of experience from top-tier firms and global industries — united by one mission: clarity, strategy and measurable outcomes for every client.
Stay current with FINTRAC regulations, PCMLTFA updates, and AML compliance guidance for Canadian MSBs and PSPs.
FINTRAC penalties have increased 40x. Here is what every registered MSB must do now.
Read moreStep-by-step guide to registering your MSB with FINTRAC and meeting PCMLTFA requirements.
Read moreThe 5 pillars every Canadian reporting entity needs in place for FINTRAC compliance.
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