Wisebit Pay Ltd is registered with FINTRAC as a Money Services Business and maintains a comprehensive compliance program to detect and prevent money laundering, terrorist financing and sanctions evasion, in line with Canada's Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and its regulations.
Compliance program
Our program includes a designated Compliance Officer, written policies and procedures, ongoing employee training, and a two-year effectiveness review conducted by an independent party.
Know Your Customer (KYC)
We verify the identity of our clients using government-issued identification and, where applicable, additional documentation to confirm source of funds and beneficial ownership.
Transaction monitoring & reporting
All transactions are subject to monitoring against risk-based rules. Where required, we file Large Cash Transaction Reports, Large Virtual Currency Transaction Reports, Electronic Funds Transfer Reports and Suspicious Transaction Reports with FINTRAC.
Sanctions screening
Clients and transactions are screened against Canadian and international sanctions lists, including designations under the Special Economic Measures Act and the United Nations Act.
Contact the Compliance team
For compliance-related inquiries, contact us at info@wisebit-pay.com.