Remittell Solutions Ltd has been registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) to offer Money Services Business (MSB) services, specifically to remit or transmit funds, under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) (MSB registration number: C100000494).
Remittell Solutions Ltd is a Money Services Business regulated by FINTRAC. Our compliance officer, designated in accordance with the PCMLTFA, works with management and staff to identify and manage regulatory risk. They ensure Remittell Solutions Ltd complies with anti-money laundering regulations.
Remittell, Anti-Money Laundering Controls
Anti-money laundering controls are implemented through the following steps:
- Training staff.
- Producing and maintaining our AML handbook of Policies and Procedures (adapted to Canadian regulations).
- Continual updates for staff and partners through training, circulars, and newsletters.
- Inbuilt controls in our software/systems.
- Audit and sampling checks of transactions.
- Reporting to FINTRAC when appropriate, including suspicious transaction reports.
The software system used by all Remittell staff is fully compliant with the procedures required by FINTRAC. The software has in-built anti-money laundering filters that are able to identify, monitor, and track transactions.
Our Remittell software program monitors all payments based on our AML Procedures as required by FINTRAC, and any changes to the requirements will be automatically reflected in our Remittell software.
We work closely with FINTRAC to ensure we comply with their rules and regulations.