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.
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