AML Compliance Services for Canadian Banks
Banks are examined more thoroughly than any other reporting entity, and correspondent relationships bring risk from institutions you never onboarded yourselves. We build programs that hold up under that level of scrutiny.
- FINTRAC Registered
- Cross-Border Expertise
- Audit Ready
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Examination Readiness and Correspondent Banking Relationships
Banks sit at the centre of the payment system, and supervisors treat them accordingly. Examinations reach into how decisions were made rather than simply whether documents exist, and the expectation is that a bank can explain its reasoning on any given file. A program that satisfies a checklist but cannot survive questioning is not a program that will hold.
Correspondent banking adds a distinct problem. When another institution routes payments through you, their customers become your exposure without ever having been onboarded by your staff. Canadian requirements expect banks to understand the respondent institution, its supervision, and its own controls before accepting that relationship, and to keep understanding it afterwards rather than treating approval as permanent.
Compliance Support for Banks
We deliver examination preparation, correspondent banking due diligence frameworks, program development and enhancement, risk assessments, transaction monitoring tuning, sanctions screening review, independent effectiveness reviews, and remediation support for banking institutions across Canada.
PSP Registration
End-to-end PSP registration support under Canada's Retail Payment Activities Act framework.
MSB Licensing
Complete MSB licensing and FINTRAC registration for money services businesses nationwide.
Banking
Deliver secure banking compliance solutions supporting regulatory excellence and operational efficiency.
AML Compliance
Build robust AML frameworks ensuring regulatory compliance and effective financial crime prevention.
Regulatory Consulting
Receive strategic regulatory advice supporting sustainable growth and complete compliance confidence.
Transaction Monitoring
Ongoing transaction monitoring and screening to detect and report suspicious activity.
Why Banks Choose Our Support
We prepare institutions for the level of questioning supervisors genuinely apply in practice, which means documenting why decisions were reached rather than simply recording that they were reached at all.
Examination Genuinely Ready
We prepare your team for the questions supervisors ask, so decisions can be explained rather than merely evidenced.
Correspondent Risk Handled
We build due diligence for respondent institutions, covering their supervision, controls, and the customers they bring indirectly.
Monitoring Properly Tuned
We review alert thresholds and scenarios, because monitoring that produces noise rather than findings satisfies nobody sensibly.
Reasoning Fully Documented
We record why each judgement was made, since supervisors examine decision quality rather than simply the existence of records.
Banks We Support Across Canada
We support banks and banking institutions right across the whole of Canada, alongside foreign banks operating Canadian branches or serving Canadian customers wherever those particular operations may happen to sit.
What Our Clients Say
Canadian financial firms trust ABM Global Compliance to navigate complex regulation with clarity and care. From MSB licensing to ongoing AML support, our clients value our responsiveness, expertise, and genuine commitment to their long-term compliance success.
Let's Talk About Your Compliance Needs
Schedule a Free Consultation
Whether you’re starting a new MSB or need ongoing AML support, our team responds within one business day.
Banking Compliance Questions
Clear answers to the questions banks ask most about supervisory examination, correspondent relationships, and their Canadian anti money laundering obligations.
How do we prepare for examination?
By making sure decisions are documented with reasoning attached, so your team can explain judgement rather than simply produce files.
What is correspondent banking risk?
Exposure to customers of another institution routing payments through you, who your own staff never identified or assessed directly.
Must we assess respondent institutions?
Yes. You need to understand their ownership, supervision, and controls before accepting the relationship, and continue monitoring it afterwards.
Is our monitoring tuned correctly?
That depends on whether alerts produce genuine findings. Systems generating unmanageable noise rarely satisfy a supervisor examining outcomes.
How often is review required?
Canada requires an independent effectiveness review every two years, though banks frequently commission additional testing between those cycles voluntarily.