Compliance
Operating according to prevailing legislation is a fundamental practice. As a money services business Calforex has implemented a thorough and complete compliance regime to comply with anti-money laundering and anti-terrorist financing requirements as mandated by Canadian law and legislation. This program is based on a strong foundation to comply with the basic requirements of client identification, record keeping and reporting and further developed into an organized, efficient and monitored system of comprehensive compliance.
Calforex is committed to maintaining the highest standards in our anti-money laundering and anti-terrorist financing program. Our company enlists the professional services of external auditors to conduct independent reviews of our regime to assess and improve our ability to combat money laundering and terrorist financing. Security is a key factor of our compliance program, not only to assist in the fight against crime and terrorism, but also to protect our clients. Personal information may be collected from our clients to meet international regulations but rest assured, your information is safe with Calforex. Compliance with privacy legislation is a key priority and all of our staff are trained to handle client information and details with the utmost levels of professionalism and discretion.
No matter which way you look at it, you’re safe with Calforex.
Calforex will ask for personal information for the following three main purposes.
- In compliance with Federal, Provincial and International legislative requirements including identity verification, know your client and record keeping requirements as stipulated by the PCMLTFA, MSB Act of Quebec and related FINTRAC guidelines.
- In compliance with Calforex business purposes.
- To provide clients with information on Calforex products and services that may interest them.
Calforex is classified (and licensed where required) as a Money Services Business (MSB) in Canada and must comply with the PCMLTFA and FINTRAC requirements. As per FINTRAC guidelines, MSB’s are entities that offer any of the following services to the public:
- Foreign exchange dealing (Calforex buys and sells foreign currency banknotes)
- Money transfer (Calforex sends and receives foreign currency wire transfers between bank accounts)
- Cashing or selling money orders, traveller’s cheques or anything similar (Calforex buys USD bank drafts and sells USD/ foreign currency drafts)
Please visit http://www.fintrac-canafe.gc.ca/msb-esm/intro-eng.asp for more information on MSB’s.
For additional information on compliance measures at Calforex, please contact co********@ca******.com.
