AML Compliance Services for Private Banks
Private banking means wealthy clients, complex ownership structures, and politically exposed relationships all arriving as entirely ordinary business. We build diligence deep enough to hold when somebody eventually examines those files properly.
- FINTRAC Registered
- Cross-Border Expertise
- Audit Ready
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Source of Wealth and Political Exposure
Private banking clients arrive with wealth that has usually been built or inherited over several decades, and it is typically held through trusts, holding companies, and arrangements spanning multiple jurisdictions at once. That complexity is entirely legitimate in most cases, and it makes establishing where money genuinely originated considerably harder than reviewing a salaried customer’s payslip.
Politically exposed persons appear far more often in this segment than anywhere else in banking. A client holding prominent public office, or related to somebody who does, requires enhanced measures rather than refusal, including establishing source of wealth and obtaining senior approval before the relationship proceeds. Recording that reasoning is what makes the decision defensible later.
Compliance Support for Private Banking
We deliver source of wealth verification frameworks, politically exposed person screening, enhanced due diligence procedures, complex structure analysis, senior approval workflows, independent effectiveness reviews, and ongoing compliance officer support for private banking operations.
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 Private Banks Choose Us
We work at the harder end of client diligence, where inherited wealth, layered structures, and political exposure mean surface level checking will not survive any serious examination of the file afterwards.
Source Of Wealth
We establish where a client’s overall wealth genuinely originated, which matters far more than the funds in one transaction.
Political Exposure Handled
We identify politically exposed clients and apply enhanced measures, rather than either refusing business or ignoring the status entirely.
Structures Traced Properly
We follow trusts and holding companies through to the people genuinely benefiting, instead of stopping at the first entity.
Approvals Properly Recorded
We build senior approval into the process, so the decision to proceed is documented rather than merely assumed afterwards.
Private Banks We Support
We support private banking operations in every province and territory right across Canada, from dedicated private banks through to the wealth management divisions operating inside much larger banking institutions today.
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.
Private Banking Questions
Clear answers to the questions private banks ask most about wealth verification, political exposure, and their Canadian anti money laundering obligations.
What is source of wealth?
Where a client’s overall assets originated, which differs from source of funds meaning the money in one specific transaction.
Must we refuse a PEP?
No. Politically exposed status requires enhanced measures and senior approval rather than refusal, and the relationship may properly continue.
How far do we investigate?
Far enough to understand genuinely where wealth came from, documented so another person could follow and test your reasoning.
Do close family members count?
Yes. Close family and known associates of a politically exposed person carry the same enhanced requirements as the person themselves.
What about offshore holding structures?
They are frequently legitimate, but they require you to trace ownership through properly and record why the arrangement satisfied you.