iPayMate Inc. operates as a Money Services Business under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA). FINTRAC MSB registration number: [insert trial licence / MSB number]. State plainly that registration is a legal requirement and is not an endorsement, licence or certification by FINTRAC.
Identity verification of every customer, record keeping, transaction monitoring, and reporting of prescribed transactions to FINTRAC, including large cash transactions over CAD 10,000 and suspicious transactions.
Why ID is collected, why a transfer may be paused for review, what information may be reported and to whom, retention periods.
Named compliance officer contact route and the complaints process link.