Money services businesses with revoked registration

From: Financial Transactions and Reports Analysis Centre (FINTRAC)

Consult the list of money services businesses with revoked registration from the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). Understand their legal obligations and the circumstances to revoke registration.

On this page

• Legal obligations of money services businesses
• Circumstances to revoke registration
• Number of revoked registrations (updated in February 2023)
• List of businesses with revoked registration (updated in February 2023)
• Related links

Legal obligations of money services businesses

Money services businesses operating in Canada have legal obligations under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (the Act) and associated Regulations, including:

• keeping records
• verifying their clients’ identity
• implementing a compliance regime
• reporting certain types of financial transactions to FINTRAC
• and registering their business with FINTRAC

Circumstances to revoke registration

FINTRAC verifies the compliance of businesses subject to the Act and has the legislative authority to revoke a money services business’ registration.

FINTRAC can deny or revoke registration if a money services business or a foreign money services business:

• does not reply to a clarification request
• is not eligible for registration

Number of revoked registrations (updated in February 2023)

List of businesses with revoked registration (updated in February 2023)

The following entities:

• did not meet the requirements of the Act and associated Regulations
• are not eligible for registration as money services businesses or foreign money services businesses with FINTRAC

Quarter legend

• Quarter 1: between April 1 and June 30
• Quarter 2: between July 1 and September 30
• Quarter 3: between October 1 and December 31
• Quarter 4: between January 1 and March 31

For up-to-date information on the most recent registration status of money services businesses, please refer to the Money Services Business Registry.

Related links

• Proceeds of Crime (Money Laundering) and Terrorist Financing Act, sections 11.1(2) and 11.17(2)
• Money Services Business Registry
• Guidance for money services businesses