Category Archives: Emerging Tech

Are you ready for the new FINTRAC rules on identity verification?

Canadian financial institutions must revamp their identity verification procedures by June 1 of this year to comply with new anti-money laundering regulations. The Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) was updated last year to allow regulated businesses to rely on digital identification from customers when they conduct financial transactions. Now, the…