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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.
With only 60 days left, the Bank of Canada (BoC)’s operational framework for payment service providers (PSPs) will come into force under the Retail Payment Activities Act (RPAA) and Retail Payment Activities Regulations (RPAR) – collectively referred to as Retail Payments Supervision (RPS) on September 8, 2025. If your business performs any of the following five payment functions, RPS apply to you, and you should already be registered with the BoC:
We’re looking for a senior operational risk person to join our team. Initially, this is going to be a part-time role but we’d love for it to become a full-time role, depending on the need and fit. We take bringing on new team members very seriously. We’re a small and close-knit team, and fit is just as important as experience. We’d be lying if we said that “can we just handle the work ourselves” isn’t something that was brought up (multiple times). You’re reading this posting because we need a very capable human, and maybe that’s you.
It has come to our attention that FINTRAC may not be sending out reminders to MSBs regarding upcoming renewals of MSB registrations.
You can check the status (and expiry date) of your MSB registration here.
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