MTFS has adopted an explicit procedure to compliance with The Proceeds of Crime (Money Laundering) and Terrorist Financing Act. MTFS compliance officers make every effort to ensure that all of our policies are in the strictest compliance, and also to ascertain that you are dealing with an ethical financial entity. MTFS has also instituted a comprehensive training program for the staff in order to ensure that all are fully aware of the guidelines and are able to implement the regulations.
Clients must be identified individually for any transaction with a value of 1,000 Canadian dollars or more. For larger transactions ($10,000 or more), we have to ask additional information to verify that the transaction is in compliance with Canadian requirements.
FINTRAC, is Canada’s financial intelligence unit, a specialized agency created to collect, analyze and disclose financial information and intelligence on suspected money laundering and terrorist activities financing. The Centre is an integral part of Canada’s engagement in the global fight against money laundering and the financing of terrorist activities.
MTFS is a “Money Service Business” registered with The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).