Immediate Action Required: Avoid Massive Penalties! Attention MSB Registration Holders in Canada! All Money Services Businesses must urgently comply with the latest Retail Payment Activities Act updates. Non-compliance risks fines over $1 million CAD 😲 Essential Steps to Avoid Penalties: 1. Register with the Bank of Canada: November 1-15, 2024. 2. Secure client funds: Open safeguarding deposit accounts by November 15, 2024. 3. Revise compliance policies: Include risk management, incident response, and audits. Why Immediate Action is Crucial: - Financial Threat: Fines starting at $1 million CAD. - Operational Halt: Risk of business suspension. - Reputational Harm: Loss of trust and business. Our expert team can guide you through these changes with comprehensive compliance services. 1. Complete registration support. 2. Policy review and compliance enhancement. 3. Assistance with safeguarding accounts. Protect Your Business Now! Contact us for a personalized consultation https://lnkd.in/gJ38gFsa
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