Fractional AML Services for Canadian Money Service Businesses

Expert AML Compliance and Canadian Presence for MSBs

Manage reporting, KYC, and transaction monitoring seamlessly with our experienced compliance officer (MLRO) and part-time compliance team

Book a Free Consultation
Download Your Free RPAA Compliance Guide

What is Fractional AML Service?

Our Fractional AML Service offers Canadian MSBs an experienced compliance officer (MLRO) and a dedicated compliance team to manage ongoing compliance obligations. This includes establishing a Canadian physical presence, ensuring regulatory adherence, and allowing you to focus on growing your business.

Key Benefits

Regulatory Compliance

Adhere to Canadian AML regulations with expert guidance.

Canadian Physical Presence

Meet FINTRAC and bank account provider requirements.

Focus on Growth

Leave compliance to us and concentrate on scaling your business.

How Renno Ensures Your AML Compliance

Tailored AML Services for Canadian MSBs: Ensuring Compliance and Smooth Operations

Expert Guidance for AML Compliance

Register your Money Service Business (MSB) with Renno's expert assistance to ensure compliance with Canadian AML regulations.

Customized AML Services

We provide a comprehensive AML policy, tailor it to your business needs, and ensure full compliance.

Regulatory Ease

Our experts guide you through each step, ensuring all AML requirements are met efficiently and accurately.

Learn about Our AML Compliance Services

Comprehensive Fractional  AML Packages

Select the Ideal Plan for Your Business

Our customized AML policy packages are designed to address the specific needs of your Money Service Business (MSB). These services are comprehensive, ensuring that you can navigate the AML compliance landscape smoothly and maintain adherence to all necessary regulations. Choose the package that aligns best with your business requirements:

Pre-Operational Services

The pricing in the below table applies to companies that have not onboarded any clients. Our work will focus on fine-tuning your AML policies, onboarding them with bank account providers, and preparing your for launch.

Service
Basic Tier
Premium Tier
Canadian Compliance Officer
Canadian Physical Presence
Connector
Vendor Selection
AML Policies and Procedures
Compliance Consulting
Bank Account Setup
1 bank account
2+ bank accounts
Onboarding Assistance
Consulting
Conducting (we do it for you)
Fintech Advisory
Crypto Advisory
Legal Support
3 hours/month
Price
Contact Us
Contact Us

Operational Services

The pricing in the below table applies to companies that have begun onboarding clients. Our work will focus on taking care of your day-to-day compliance operations.

Service
Basic Tier
Premium Tier
Canadian Compliance Officer
Canadian Physical Presence
Connector
Vendor Selection
AML Policies and Procedures
Regulatory Updates
Onboarding Assistance
Consulting
Conducting (we do it for you)
Client Onboarding
Guidance on your client onboarding system and implementation.
Setting up and administering your client onboarding process.
Transaction Monitoring Support
Guidance on setting up transaction monitoring systems.
Setting up and administering transaction monitoring systems.
Training and Education
Access to a library of self-serve online training materials and testing. Annual live training session.
Customized live training sessions for the client's staff on compliance, AML, and regulatory changes followed by customized testing.
Regulatory Filing Support
Provide templates and guidance for self-filing and guiding you through the process.
Full-service filing of necessary regulatory documents on your behalf.
Record-Keeping
Consulting on record-keeping requirements and best practices for efficient record-keeping.
Performing record-keeping function on your behalf.
Audit and Examination Preparation
Preparation tips for FINTRAC audit.
In-depth audit services including pre-audit assessments and mock examinations.
Fintech Advisory
Crypto Advisory
Legal Support
3 hours per month
Price
Contact Us
Contact Us

*Final pricing depends on business needs and will be provided after understanding the business. 

Why Choose Renno?

Trusted by 40+ Fintech startups across 10+ countries

Expertise and Experience

Proven track record in navigating the Canadian regulatory environment.

Tailored Solutions

Customized services to meet your unique business needs.

Legal & Compliance

We’re the only firm in Canada with compliance AND legal practitioners - we have you covered from every angle!

Get Started Now

Latest Update

Audit And Review Processes In RPAA Compliance

RPAA audit and review processes ensure various frameworks by entities meet legal requirements and help them maintain RPAA compliance.

December 26, 2024
Fintech

The Role Of Third-Party Service Providers In RPAA Compliance

Learn about the roles of third-party service providers (TPSP’s) in ensuring RPAA compliance for MSBs and PSPs. Understand key responsibilities, challenges, and best practices.

December 18, 2024
Fintech

Why Must Canadian MSBs Utilize The Risk-Based Approach For AML Compliance?

The risk-based approach is a structured method for identifying and addressing risks tied to ML/TF. Learn more about using this approach in our blog.

December 3, 2024
Read more

FAQ

What does the fractional/outsourced compliance offering give me? What does this service involve?
Our fractional compliance service provides you with an experienced Canadian compliance officer (MLRO) and a dedicated compliance team to manage your ongoing AML obligations.
Can you provide us with a local nominee director?
Yes, we can assist with providing a local nominee director if required.
Is there a requirement for MSBs to have a local compliance officer?
FINTRAC and many bank account providers expect MSBs to have a Canadian compliance officer (MLRO).
What services does Renno offer for AML compliance?
Initial Assessment:
Evaluate your current AML procedures and identify areas of improvement.

Policy Development:
Develop a comprehensive AML policy tailored to your business operations and risk profile.

Policy Customization:
Customize your AML policy to ensure compliance with Canadian requirements.

Ongoing Support:
Provide continuous guidance and support for AML compliance.
How can Renno help with AML policy development?
We evaluate your current AML procedures, develop tailored AML policies, and assist with necessary revisions to ensure compliance with Canadian regulations.
What are the benefits of having a strong AML policy?
A strong AML policy facilitates banking relationships, protects against money laundering risks, and adapts to dynamic Canadian regulations, safeguarding your business’s reputation and financial integrity.
How long does the AML policy development process take?
The timeline varies depending on the service package chosen, ranging from 4-9 weeks. Renno will help you prepare and finalize all necessary documents within this timeframe.
Can Renno assist with both Canadian and international MSBs?
Yes, we can help both domestic and international MSBs operating in Canada.
How do I get started with Renno's AML services?
Book a free 15-minute consultation or download our comprehensive AML compliance guide to begin.

Book a Free Consultation

English