Third Party Risk Assessment for Financial Businesses
Every agent, introducer, correspondent, and vendor you rely on can carry money laundering risk straight into your business. We assess your third party risk so the parties you depend on do not become your blind spot across Canada.
The Risk Your Partners Bring In
You can outsource a function, but you cannot outsource the responsibility. Agents, introducers, correspondents, and outsourced providers all sit close to your money laundering risk, and a weak one becomes your weakness. We assess the third parties you rely on, so you understand the risk each one carries.
Due Diligence on Who You Rely On
Relying on a third party does not move the risk off your books, it just puts it somewhere harder to see. We assess the parties you depend on, agents, introducers, correspondents, and outsourced providers, checking who is behind them, how they manage financial crime, and where they could let risk through. That gives you a clear view of third party risk.
Assess Parties
We assess the money laundering risk in each single third party.
Due Diligence
We run due diligence on the third parties you rely on.
Reliance Limits
We help you set sensible limits on your third party reliance.
Ongoing Watch
We help you monitor third party risk over the whole relationship.
Ready to Simplify Your Compliance?
Businesses We Support and Guide
We assess third party risk for payment service providers, money services businesses, currency dealers, crypto businesses, and the many other financial businesses that rely on agents and partners under Canadian regulation.
We support banks with program design, oversight, & regulatory examination readiness.
We help credit unions meet obligations proportionate to their membership and scale.
We handle registration, renewals, reporting, & controls FINTRAC expects from you.
We cover Bank of Canada registration alongside your anti money laundering obligations.
We establish what your wallet activity triggers, then build only what applies.
We build compliance around what your product does, before volumes and questions arrive.
We register virtual currency dealers and build the reporting their activity demands.
We support financial institutions across registration, program build, and reporting duties.
Why Businesses Choose Our Assessment
Risk Stays
We treat third party risk as yours to manage, because reliance never moves the responsibility off your own shoulders.
Behind Parties
We look at who is really behind a third party, so hidden ownership does not slip past you.
Ongoing Watch
We help you keep watching third parties, so a partner sound at the start does not drift into risk.
Serving Businesses Across Canada
We support businesses right across Canada, from Toronto and Montreal to Vancouver and Calgary, and foreign businesses meeting their Canadian third party risk duties wherever they happen to be based.
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.
Third Party Risk Questions
Clear answers to the questions businesses ask most about assessing the money laundering risk in their third parties in Canada.
What is a third party risk assessment?
It is the assessment of money laundering risk arising from agents, introducers, correspondents, and other parties your business relies on.
Can I outsource my compliance responsibility?
No. You can rely on a third party for tasks, but the compliance responsibility stays with you, so their risk is yours.
Which third parties should be assessed?
Agents, introducers, correspondents, outsourced providers, and any partner whose failure could bring money laundering risk into your business.
How is this different from customer assessment?
A customer buys from you. A third party you rely on, and their weakness becomes your exposure, which is why it needs its own assessment.
Is third party risk one off?
No. Third parties should be assessed at the start and monitored over time, since a sound partner can drift into risk later.