AML Compliance Services for Foreign Exchange Businesses
Currency exchange is cash intensive by its very nature, which puts the whole sector under closer attention than most other activities. We build controls around cash handling, reporting thresholds, and transaction structuring.
- FINTRAC Registered
- Cross-Border Expertise
- Audit Ready
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Cash Intensity and Real Reporting Thresholds
Foreign exchange dealing is a money services business activity requiring FINTRAC registration, and it attracts scrutiny for an entirely obvious reason. Currency exchange handles physical cash in volume, converts it between denominations and currencies, and does so through transactions that are frequently one off rather than part of an ongoing customer relationship built over time.
Reporting thresholds shape the operational reality. Large cash transactions carry reporting obligations, and customers who understand that will sometimes split transactions to stay beneath the line. Recognising structuring, whether across a single day or between locations, is a core competence in this sector rather than an advanced technique, and staff at the counter need to spot it when it happens.
Compliance Support for Currency Exchange
We deliver FINTRAC registration, large cash transaction reporting frameworks, structuring detection procedures, counter staff training, customer identification design, risk assessments, independent effectiveness reviews, and ongoing compliance support for foreign exchange businesses 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 Exchange Businesses Choose Us
We build controls that genuinely work at a counter rather than in a policy document, because currency exchange compliance succeeds or fails in the moment a customer is actually standing there.
Cash Reporting Accurate
We build large cash transaction reporting that holds up, since accuracy here is examined more closely than elsewhere.
Structuring Properly Detected
We train staff to recognise split transactions, whether across one day or between your different locations entirely.
Counter Staff Trained
We train the people actually serving customers, because that is where identification and suspicion genuinely arise.
One Off Customers
We build identification for customers you will never see again, which differs from onboarding an ongoing relationship.
Exchange Businesses We Support Nationwide
We support foreign exchange and currency dealing businesses in every single province and territory across Canada, from single counter operations through to larger multi location networks serving several different provinces at once.
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.
Currency Exchange Questions
Clear and direct answers to the questions foreign exchange businesses ask most about cash reporting and their ongoing obligations to FINTRAC.
Do we need FINTRAC registration?
Yes. Foreign exchange dealing is a money services business activity, and registration is required before you begin operating.
What exactly is transaction structuring?
Splitting a transaction into smaller amounts to stay below a reporting threshold, which itself warrants a suspicious transaction report.
Must we identify every customer?
Identification requirements depend on transaction type and value, and we build procedures that apply the right check consistently.
What about multiple small transactions?
Related transactions can aggregate for reporting purposes, so your systems need to recognise connection rather than treating each separately.
How often is review required?
Canada requires an independent effectiveness review every two years, carried out by somebody independent of the operations being reviewed.