Compliance & Regulatory Information
Last updated: December 2024
Licensing & Registration
- Money Services Business (MSB): Money Services Business (MSB) registration with FINTRAC
- Jurisdiction: Operating under Canadian federal jurisdiction
- Compliance with Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA)
- Regular regulatory examinations and audits
For licensing inquiries: compliance@standarddigitalexchange.com
Anti-Money Laundering & Counter-Terrorist Financing
Know Your Customer (KYC) Procedures
- Identity verification for all customers
- Documentation requirements based on risk level
Risk-Based Approach
- Customer risk scoring and categorization
- Enhanced due diligence for high-risk customers
Transaction Monitoring
- Automated monitoring rules and alerts
- Manual review of suspicious activity alerts
Sanctions Screening
- Daily screening against sanctions lists
- Blocking of transactions with sanctioned entities
Record Retention
- 5-year retention of all transaction records
AML/CTF inquiries: aml@standarddigitalexchange.com
Fraud Prevention & Security
- Multi-factor authentication (MFA) for all accounts
- End-to-end encryption of sensitive data
- ISO 27001 information security management
- Real-time suspicious activity detection
Consumer Protection Measures
- Transparent Pricing Clear disclosure of all fees and exchange rates before transaction completion
- Error Resolution Prompt investigation and resolution of transaction errors
- Funds Safeguarding Segregated accounts and trust arrangements for customer funds
- Cooling-Off Period Right to cancel transactions within specified timeframes
Data Privacy & Protection
We are committed to protecting your personal information in accordance with:
- Lawful bases for data processing under applicable privacy laws
- No selling of personal data to third parties
- Secure international data transfers with appropriate safeguards
Responsible Remittance Practices
- Promoting financial inclusion and access
- Customer education on safe money transfer practices
- Security awareness and fraud prevention education
Regulatory Reporting
We file required reports with regulatory authorities including suspicious transaction reports (STRs) and large cash transaction reports (LCTRs) as mandated by PCMLTFA.
Policy Updates
This compliance information is regularly updated to reflect current regulatory requirements and best practices. Significant changes will be communicated to customers.