Canada's MSB Registry Under Scrutiny: A Loophole for Financial Crime? An investigation by IJF and CTV National News has uncovered a concerning trend in Canada where multiple money services businesses (MSBs) are registered at the same address, often without the knowledge or consent of the actual occupants. This practice, which includes foreign currency dealers, money transfer businesses, and cryptocurrency exchanges, raises red flags for potential money laundering and terrorist financing. Financial crime experts warn that this goes against the spirit of Canada’s registration requirements for high-risk businesses, with some of these MSBs allegedly involved in fraudulent investment schemes. The investigation highlights critical gaps in Canada’s enforcement regime, allowing potential financial criminals to exploit the system. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Major Banks See Deposit Costs Surpass Interest Earnings Amid Rising Rates READ MORE Oil Prices Climb as Market Optimism Grows Amid Tightening Supply Signals READ MORE Record Start to 2024: Companies Ramp Up Share Repurchases READ MORE How Gen Z's Interest in Gold is Shaping the Market READ MORE HSBC: Why Gold Prices Continue to Break Records READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment