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Canada TD Bank to receive USD 7.4 million penalty for faulty policies

News | Digital Identity, Security & Online Fraud | 02 Feb 2024

Canada-based TD Bank has received a significant monetary penalty for faulty anti-money laundering controls after an examination by the financial crime institutions. 

penalty, money laundering, financial crime, financial sanctions, financial institutions

Canada's banking regulator to increase focus on ML issues

News | Digital Identity, Security & Online Fraud | 22 Jan 2024

The Office of the Superintendent of Financial Institutions (OSFI), Canada’s banking regulator, has announced that it intends to increase its focus on money laundering issues.

AML, money laundering, transaction laundering, CFT, online security

ATB Ventures' Oliu partners with Flinks for digital ID verification

News | Digital Identity, Security & Online Fraud | 17 Jan 2024

Canada-based ATB Ventures has announced a partnership between Oliu, its latest digital ID verification solution, and Flinks, a financial data connectivity provider in Canada. 

partnership, identity verification, identity fraud, digital identity, bank account

Interac broadens access to its e-Transfer service

News | Payments General | 28 Sep 2023

Interbank payments network Interac has broadened access to additional types of financial institutions for participation in its e-Transfer service, with Wealthsimple approved as a participant.

expansion, paytech, payments , FX , money transfer, digital payments, financial services, fintech, transactions

RevoluPAY completes testing trials of ACH, FPS, and SEPA Instant

News | Payments General | 14 Mar 2023

RevoluPAY has completed live testing trials of ACH in Canada and the US, FPS – Faster Payments Service in the UK, and SEPA Instant – Single Euro Payments Area in 27 countries.

banking license, ACH, SEPA, Open Banking, banks

Plaid launches identity verification service in Canada

News | Digital Identity, Security & Online Fraud | 17 Feb 2023

US-based Open Banking platform Plaid the launch of Plaid Identity Verification and Monitor, a global verification and KYC solution, in Canada.

Open Banking, product launch, identity verification, compliance, digital identity

Highlights on local and regional regulations impacting cross-border payments and ecommerce

Voice of the Industry | Ecommerce | 03 Feb 2023

Michelle Swiec, Director of Deal Advisory and Strategy Practice at KPMG, elaborates on local and regional regulations with an impact on the cross-border payments and ecommerce space.

cross-border payments, cross-border ecommerce, regulation, ecommerce, cryptocurrency, digital currency, blockchain, AML, CTF, KYC, money laundering, merchant, PSD2, SCA

Bank of Canada introduces retail payments supervisory framework

News | Ecommerce | 23 Nov 2022

The Bank of Canada has introduced a supervisory framework under the The Retail Payments Activities Act which sets out how it will oversee PSPs and foster compliance.

retail, risk management, regulation, ecommerce, PSP

Crypto.com gets regulatory approval in France

News | Cryptocurrencies | 30 Sep 2022

Crypto.com, a cryptocurrency platform, has been registered in France as a Digital Asset Service Provider (DASP) by the Autorité des marchés financiers (AMF).

cryptocurrency, cryptocurrency exchange, crypto asset, digital assets, expansion

Crypto.com receives greenlight to operate from Canadian regulator

News | Cryptocurrencies | 16 Aug 2022

Singapore-based company Crypto.com has become the first international cryptocurrency platform to become officially regulated in Canada.

cryptocurrency, regulation, Bitcoin, cryptocurrency exchange

Morpho Labs partners with Shufti Pro for KYC/AML-compliant ID checks

News | Digital Identity, Security & Online Fraud | 03 Nov 2021

France-based fintech startup Morpho Labs has selected UK-based digital identity verification platform Shufti Pro for KYC and AML checks on cryptocurrency investors.

digital identity, identity verification, startup, KYC, AML, FATF, artificial intelligence

RedCompass Labs releases quarterly RedFlag Accelerator update

News | Digital Identity, Security & Online Fraud | 07 Oct 2021

RedCompass Labs have announced the quarterly update of the RedFlag Accelerator typologies in the financial industry to help banks stop MSHT and protect children.

digital identity, fraud detection, financial crime, banks, Europol

Obligations for Canadian businesses dealing in virtual currencies take effect

News | Cryptocurrencies | 08 Jun 2021

Amendments to the Proceeds of Crime - Money Laundering and Terrorist Financing Act (PCMLTFA) have come into effect begging of June 2021.

cryptocurrency, AML, money laundering, compliance, money transfer

Manulife chooses Yoti for remote face identification

News | Digital Identity, Security & Online Fraud | 12 Apr 2021

Canada-based Manulife, a global financial services firm, has chosen Yoti for selfie-based remote onboarding.

partnership, digital identity, biometric authentication, digital onboarding

NetCents receives BIN number, prepares credit card launch

News | Cryptocurrencies | 20 Jan 2021

Crypto payments company NetCents has released an update on the NetCents Cryptocurrency Credit Card resulted from a partnership with Visa, according to menafn.com.

NetCents Technology, BIN number, credit card, product launch, AML, Fintrac MSB, compliance, Visa, wallet, cryptocurrency, payments

RevoluGROUP Canada applies for FINTRAC license

News | Online & Mobile Banking | 28 Oct 2020

RevoluGROUP Canada has announced that it has retained the Vancouver, BC Law firm Tupper, Jonsson & Yeadon to assist in the preparation of a license application to FINTRAC.

Revolugroup, FINTRAC, Canada, RevoluPAY, PSD2, Open Banking

TerraPay obtains money services business licence to enable remittances from Canada

News | Payments General | 27 Oct 2020

Netherlands-based global payments infrastructure company TerraPay has secured its MSB registration from the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), reports Electronic Payments International.

TerraPay, licence, remittances, Canada, cross-border payments, money transfer

Samtrade FX obtains FCA licence

News | E-invoicing, SCF & E-procurement | 29 Jul 2020

Samtrade FX, an online trading brokerage, has been registered and authorised as an Appointed Representative by the FCA.

Samtrade FX, Financial Conduct Authority, FCA, Australian Securities and Investments Commission, ASIC, trading, brokerage, Appointed Representative, Australian Financial Services, AFS, Australia, Europe, Asia, International Business Companies, IBC, Financial Services Authority of Saint Vincent, Financial Transactions and Reports Analysis Centre of Canada, FINTRAC, Canada, Money Services Business, MSB

InstaReM launches its services in Canada

News | Payments General | 19 Sep 2019

InstaReM, a Singapore-based cross-border payments provider, has launched its services in Canada to deliver streamlined digital money transfers.

InstaRem, cross-border payments, payments provider, launch, Canada, money transfers, remittance

Coinberry, Cyclebit to provide Canadians with cryptocurrency payment solution

News | Cryptocurrencies | 14 Aug 2019

Coinberry, a Canada-based digital currency platform, has teamed up with Cyclebit to provide Canadians with a tangible, cryptocurrency-to-retail payment processing solution.

Coinberry, Cyclebit, partnership, retailers, POS, cryptocurrency payments, Canada, Bitcoin