REGULATORY OVERVIEW
FiniQua Finance Ltd is registered as a Money Services Business (MSB) with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) under registration number M24178970.
FiniQua Finance Ltd is also registered as a Payment Service Provider (PSP) with the Bank of Canada.
FiniQua Finance Ltd provides the following services:
Foreign Exchange Dealings
Money Transferring
Virtual Currency Dealings
Payment Processing
FiniQua Finance Ltd does not provide:
Money orders
Traveller’s cheques
Cheque cashing
Issuing or redeeming money orders
Casino or gambling services
Crowdfunding services
FiniQua Finance Ltd operates in accordance with applicable Canadian legislation, including the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and associated regulations.
As a registered PSP, FiniQua Finance Ltd maintains measures designed to safeguard end-user funds in accordance with applicable Bank of Canada requirements.
As an MSB and PSP, FiniQua Finance Ltd maintains a compliance framework designed to support its obligations to:
Identify and verify clients
Monitor transactions and business relationships
Maintain required records
Report prescribed transactions
Conduct risk assessments
Provide employee training
Support independent review of its compliance program
FINTRAC provides regulatory oversight of MSB activities, while the Bank of Canada provides oversight of PSP activities. FiniQua Finance Ltd may also be subject to oversight by other competent authorities where applicable.
NON-COMPLIANCE
Compliance with applicable AML/ATF legislation is mandatory. Failure to comply may result in regulatory, administrative, civil, or criminal consequences under Canadian law.
FiniQua Finance Ltd expects all employees and relevant parties to adhere to applicable laws and internal compliance standards.
INTRODUCTION & INTERNATIONAL STANDARDS
FiniQua Finance Ltd’s primary regulatory obligations arise under Canadian law; however, the company also considers relevant international standards, including those issued by the Financial Action Task Force (FATF), where appropriate to its services and risk profile.
FATF RECOMMENDATIONS
The FATF sets internationally recognized standards for combating money laundering and terrorist financing.
FiniQua Finance Ltd takes these standards into account, particularly in relation to:
Risk-based AML/ATF controls
Customer due diligence expectations
Virtual asset service provider (VASP) considerations
Cross-border information sharing
These standards are considered alongside Canadian legal and regulatory requirements.
TRAVEL RULE (VIRTUAL ASSETS & TRANSFERS)
In relation to virtual currency and certain financial transfers, FiniQua Finance Ltd considers applicable information-sharing obligations, commonly referred to as the “Travel Rule,” as reflected in FATF guidance and implemented through applicable regulatory expectations.
This includes maintaining and, where required, transmitting relevant originator and beneficiary information in connection with qualifying transactions, in accordance with applicable laws, regulatory requirements, and industry practices.
FiniQua Finance Ltd applies controls designed to support transparency and traceability of transactions, particularly in higher-risk or cross-border contexts.
MONEY LAUNDERING DEFINED
Money laundering is the process of disguising or converting funds derived from unlawful activity in order to conceal their origin or make them appear legitimate.
It typically involves three stages:
Placement – introduction of illicit funds into the financial system
Layering – movement of funds to obscure their origin
Integration – reintroduction of funds into the legitimate economy
Such activity may involve fiat currency, virtual assets, third parties, shell entities, or fraudulent instruments.
FiniQua Finance Ltd recognizes that its services may be exposed to such risks and applies controls to mitigate them.
TERRORIST PROPERTY AND LISTED PERSON RISKS
FiniQua Finance Ltd complies with Canadian laws relating to terrorist property and sanctioned individuals and entities, including obligations under:
the Criminal Code of Canada
the Special Economic Measures Act (SEMA)
applicable United Nations sanctions
These obligations include identifying and addressing risks associated with dealings involving listed persons, designated entities, or property owned or controlled by such persons.
FiniQua Finance Ltd applies screening and monitoring controls designed to detect and prevent transactions involving listed persons or sanctioned jurisdictions.
Where required, appropriate action is taken, including restricting or terminating activity and reporting to relevant authorities.
WHAT THIS MEANS FOR FINIQUA FINANCE LTD
FiniQua Finance Ltd maintains a compliance framework proportionate to the nature, scale, and risk profile of its activities.
This includes:
Appointment of a qualified compliance officer
Written policies and procedures
Risk assessment processes
Employee training
Customer due diligence
Transaction monitoring
Independent review
FiniQua Finance Ltd maintains its regulatory registrations and fulfills its obligations under applicable law.
RISK-BASED APPROACH
FiniQua Finance Ltd applies a risk-based approach to AML/ATF compliance.
Risk assessments consider:
Customer and counterparty location
Delivery channels (including non-face-to-face)
Products and services
Nature and purpose of relationships
Expected transaction activity
Customers are classified according to risk, and enhanced measures are applied where higher risk is identified.
Where risks cannot be adequately mitigated, FiniQua Finance Ltd may decline or terminate relationships or transactions.
ONGOING TRANSACTION MONITORING
FiniQua Finance Ltd conducts ongoing monitoring of transactions and customer activity to identify unusual or potentially suspicious behavior.
Monitoring considers factors such as:
Customer profile
Expected activity patterns
Transaction size and frequency
Geographic indicators
Behavioral changes
This supports the identification and escalation of potentially reportable activity.
CUSTOMER IDENTIFICATION AND DUE DILIGENCE
FiniQua Finance Ltd applies customer identification and due diligence measures consistent with regulatory requirements.
This includes:
Verifying customer identity
Understanding the purpose of the relationship
Identifying beneficial ownership
Applying enhanced due diligence in higher-risk situations
Additional information may be requested where necessary.
SANCTIONS AND WATCHLIST SCREENING
FiniQua Finance Ltd screens customers and counterparties against applicable Canadian sanctions lists, including listed persons under relevant legislation, as well as other regulatory watchlists.
Where elevated risk is identified, appropriate action is taken in accordance with legal and regulatory obligations.
TRANSACTION RECORDS
FiniQua Finance Ltd maintains records relating to customer identification, transactions, and compliance activities in accordance with applicable legal and regulatory requirements.
Records are retained for the periods prescribed by law.
REPORTING OF SUSPICIOUS ACTIVITY
FiniQua Finance Ltd requires personnel to identify and escalate unusual or suspicious activity.
Where legal thresholds are met, reports are submitted to FINTRAC or other competent authorities in accordance with applicable requirements.
COOPERATION WITH AUTHORITIES
FiniQua Finance Ltd cooperates with regulators and law enforcement agencies as required by law, including responding to lawful requests and supporting efforts to prevent and detect financial crime.
CONTACT
For compliance-related inquiries: