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Effective October 1, 2025, Canadian anti-money laundering (AML) reporting entities regulated by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) are required to report to Corporations Canada any material discrepancies identified between the beneficial ownership information that they have obtained and that is listed in Corporations Canada’s database.
Read more on New Beneficial Ownership Discrepancy Reporting…
Opening remarks from Outlier Compliance Group Co-Founder and Chairperson Amber D. Scott at TCAE 2025 Toronto Compliance & AML ConferenceMany of us remember exactly where we were on this day 24 years ago.
The Outlier Compliance Group team is excited to welcome our newest member, Maria Shamou, as our administrative ninja.
Maria brings broad compliance knowledge complemented by over eight years of comprehensive customer service experience, paired with a strong foundation in administrative support and a strong interest in compliance along with a background in administrative support. She earned a Bachelor’s degree in Business Administration, and later completed a post-graduate program in Financial Services Compliance Administration at Seneca College. Through this program, she expanded her knowledge in anti-money laundering (AML) administration, risk management, privacy management, and financial services product knowledge. Her interest in financial services products led her to complete the Canadian Securities Course (CSC).
Read more on Outlier Compliance Group welcomes Maria Shamou!…
Written with Heidi Unrau
We want to alert you to a rise in phishing emails impersonating Outlier Compliance Group.
Several of our clients have recently received emails that look like they’re from Outlier Compliance Group, but are definitely not.
Read more on Fraud Alert: Scammers Are Using Our Name in Fake Phishing Emails…
Are you a money services business (MSB) that serves clients in Canada? Have you checked your MSB registration lately? If not, there’s no time like the present, and you can do so here.
Today marks another milestone for us – 12 years since Outlier Compliance Group was founded.
What began as a bold and novel idea, building a consulting firm made up exclusively of seasoned compliance professionals with deep in-house experience, has grown into a thriving, trusted partner for clients navigating Canada’s ever-changing regulatory landscape.
BackgroundWe recently sought clarification from FINTRAC as it relates to identification requirements that Factoring Companies (Factors) must comply with.
Factors supply liquidity to a customer in exchange for the cash value of a certain amount of the customer’s accounts receivable (i.e. invoices) to be collected later by the factoring company. A factor is defined as a person or entity that is engaged in the business of factoring, with or without recourse against the assignor.
Read more on Identification Triggers for Factoring Companies…
We’re seeing FINTRAC ramp up Administrative Monetary Penalties against all sectors, however, for securities dealers we’re starting to see some heavy hits, something we haven’t seen before, signaling a graduated approach to compliance assessments by FINTRAC.
Read more on Securities Dealers See Rising FINTRAC Penalties…
When it comes to AML compliance, submitting a Suspicious Transaction Report (STR) to FINTRAC is just the beginning, not the end.
In this short video presentation, Divya Bhaktha from Outlier Compliance Group breaks down exactly what you need to do after an STR is filed, and the consequences if you don’t follow-up correctly.
Read more on What Should You Do After Submitting Suspicious Transaction Reports to FINTRAC?…
Written with Heidi Unrau
Every request, meeting, form, or call with the Financial Transaction and Reports Analysis Centre of Canada (FINTRAC), Canada’s anti-money laundering (AML) regulator and financial intelligence unit (FIU), is a potential assessment activity. If your business is subject to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA), the regulator could contact you at any time. In 2025, FINTRAC significantly expanded and diversified its compliance assessment toolkit.
