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Case study
Canadian MSB FINTRAC Readiness
A refreshed PCMLTFA programme, effectiveness review and reporting process ahead of examination.
Engagement summary
Client
Canadian money services business
Market
Canada
Focus
Regulatory Readiness
The challenge
Where the business started
A Canadian MSB expected a FINTRAC examination but had not completed a recent effectiveness review. Policies were outdated, training records were incomplete and reporting processes depended on one person.
Management needed a clear view of gaps and a practical plan to fix them quickly.
Our approach
- Gap assessment against PCMLTFA requirements
- Updated compliance policies and risk assessment
- Independent two-year effectiveness review
- Documented STR, LCTR and EFT reporting procedures
- Staff training with assessments and records
- Examination preparation and evidence index
Outcomes
What changed
This case study is an anonymised, illustrative engagement scenario based on the experience of the Hilix team. Client names and identifying details are withheld to protect confidentiality.
Services used
Services in this engagement
Regulatory Readiness & Gap Assessment
Gap assessments, evidence packs and remediation tracking that prepare you for regulators, audits and partner reviews.
Compliance Audits & Independent AML Reviews
Independent file testing and control reviews that show exactly where you stand and what to fix first.
Regulatory Reporting Support
Data preparation, review and calendars for periodic returns, threshold reports and other regulatory submissions.