EXPLORE PROGRAMS
Payment Service Providers occupy a unique regulatory position in Canada: those that perform money transfer, FX, or virtual currency dealing also qualify as MSBs under the PCMLTFA, while their core retail payment functions are supervised by the Bank of Canada under the RPAA. This dual supervision means PSPs must build compliance programs that satisfy both FINTRAC and Bank of Canada expectations. This course is purpose-built for PSP compliance officers, operations leads, and product managers. It addresses the AML/CTF risk profile of modern payment products — including stored-value, account-to-account, card-acquiring, marketplace payouts, and embedded finance — and how to translate that risk into onboarding, monitoring, and reporting controls. It also explains how to design controls that scale with transaction volume and how to satisfy financial-institution sponsors during their ongoing oversight.
You will learn how to determine whether your PSP is also an MSB, how to register with FINTRAC and the Bank of Canada, how to identify and verify clients (including merchants, marketplace sellers, and end users), how to monitor payment flows for typologies relevant to PSPs, how to file LCTRs, LVCTRs, EFTRs, and STRs, and how to respond to examinations from either regulator.
Course Cost :
$100.00
