FINTRAC

Registered. These are the rules we follow.

Kuberji Online Cargo Inc. is registered with FINTRAC as a money services business under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and its Regulations. The amounts below are in Canadian dollars. If this summary and the official guidance differ, the Act, the Regulations, and FINTRAC’s guidance govern.

Compliance program

Compliance officer
A person with the authority to put the compliance program into practice.
Policies and procedures
Written rules, kept current and approved by a senior officer, covering every obligation that applies.
Risk assessment
A documented assessment of money-laundering and terrorist-financing risk, including higher-risk clients and activities.
Training
An ongoing program so that the people who handle transfers understand the rules.
Effectiveness review
A documented review of the program at least every two years.

When we verify your identity

Identity is verified with government-issued photo identification, or another method that FINTRAC accepts. For a company, we also record the people who own or control it. Clients assessed as higher risk are monitored more closely.

$1,000 or more
When we initiate an electronic funds transfer, or send funds by another method.
$1,000 or more
When we pay the beneficiary of an international electronic funds transfer.
$3,000 or more
When we conduct a foreign-exchange transaction.
$10,000 or more in cash
When we conduct a large cash transaction, including amounts that add up within 24 hours.
Any amount
When we have reasonable grounds to suspect that a transaction is related to money laundering or terrorist financing.

Reports to FINTRAC

Suspicious transaction
Any amount, where there are reasonable grounds to suspect money laundering or terrorist financing. We do not tell the client that this report was filed.
Electronic funds transfer
An international electronic funds transfer of $10,000 or more, sent or received, including amounts that add up within 24 hours.
Large cash
Receipt of $10,000 or more in cash in a single transaction, or within 24 hours.
Listed person or entity
Property in our possession or control that we know is owned or controlled by a person or entity on a Canadian sanctions list. The report is filed as soon as that fact is known.

Records

We keep the records the Regulations require for a transfer or a foreign-exchange transaction: who paid, who was paid, the amount, the purpose, and the identity information used. Copies of reports sent to FINTRAC are kept with those records.

Records are kept for at least five years, in a form that can be provided to FINTRAC within 30 days of a request. We decline a transfer we cannot identify, a transfer for a person we cannot verify, and a request that does not match the documents.

Confirm our registration yourself

Compare our legal name, Kuberji Online Cargo Inc., with the public Money Services Business Registry. A listing means the business met the requirement to register. It does not mean that FINTRAC has approved or endorsed the business.

View the FINTRAC MSB registry

Official guidance

These pages are published by FINTRAC. They are the official guidelines behind this summary.