Coin Maple Inc. is a registered money services business with MSB registration number: M19601455
That being said, as a registered MSB we must comply with Local Regulations Regarding KYC (Know Your Customer) and AML (anti-money laundering) to prevent Financial Crime.
We do have obligations to undertake a compliance program to ensure that we are proactive with the new changes that are being proposed by the New Retail Framework from the Department of Finance Canada, that the MSB regulations as administered by FINTRAC which is now extended to cryptocurrencies.
These activities include;
- Assigning a Compliance Officer,
- Acquiring Board level approval for the compliance program,
- Know Your Customer and Customer Due Diligence,
- Limits and control based on client verification levels,
- A documented Risk Assessment
- Transaction Record Keeping,
- Periodic reviews of the effectiveness of our Compliance Programs and Operations.
- Ongoing monitoring for suspicious activity relating to Proceeds of Crime, Money Laundering, and Terrorist Financing,
- Not conducting and prohibiting any relationship/accounts with Shell Banks.
- Ongoing Training for all employees, staff, and Management (including the board of directors), and,
- Voluntary reporting to FINTRAC for suspicious activity.
If you have any questions related to our compliance program, please feel free to contact us at support@coinmaple.com