MSB Resources
Official sources and practical guidance for registering and operating a Money Services Business in Canada.
Regulators
FINTRAC — MSB Registration →
Understand FINTRAC registration scope, prepare business information and separate AML registration from other permissions.
FINTRAC MSB Registry Search →
Use the public MSB register for counterparty checks without mistaking registration for approval or a complete risk assessment.
Bank of Canada — Retail Payments Supervision →
Assess payment-service-provider scope under the RPAA and the separate duties around operational risk and end-user funds.
Québec Money-Services Business Licensing →
Check Québec’s provincial money-services business licensing requirements separately from federal FINTRAC registration.
Compliance guidance
Compliance program requirements →
Turn FINTRAC’s compliance-program elements into assigned responsibilities, documented controls and an effectiveness review.
Reporting suspicious transactions →
Understand the suspicion threshold, attempted transactions and the evidence needed for a useful FINTRAC report.
Travel rule guidance →
Identify information that must accompany covered EFT and virtual-currency transfers and handle missing data.
Administrative monetary penalties →
Read FINTRAC penalty notices as control lessons while distinguishing administrative findings from criminal allegations.
Industry
Payments Canada →
Understand Canadian clearing and settlement infrastructure and separate system access from the services a banking partner offers.
Canadian MSB Association →
Explore industry education and professional connections without treating association membership as regulatory approval.
Canadian Securities Administrators — Crypto →
Assess securities-law questions for crypto trading platforms separately from FINTRAC’s virtual-currency obligations.
Frequently Asked Questions
Does FINTRAC registration authorize every financial activity?
No. It is an AML/ATF registration, not a licence or endorsement. Payment supervision, securities law, provincial requirements and foreign laws must be assessed separately.
When does an MSB also need Bank of Canada registration?
Assess the payment functions, electronic funds transfers, Canadian connection and exclusions under the RPAA. FINTRAC status alone does not determine the answer.
Does using a white-label platform make a crypto exchange compliant?
No. The operator still needs to assess FINTRAC obligations, client contractual rights, securities requirements and the effectiveness of the platform's controls.
How often must a FINTRAC compliance program be reviewed?
An effectiveness review must be conducted at least every two years. Document findings and corrective actions; reviewing a policy template alone does not establish that controls work.