Who has to register?

As of June 23, 2008, money services businesses (MSBs) will have to be registered with FINTRAC. You are an MSB if you are engaged in the business of any of the following activities:

• foreign exchange dealing;
• remitting or transmitting funds by any means or through any person, entity or electronic funds transfer network; or
• issuing or redeeming money orders, traveller’s cheques or other similar negotiable instruments (except for cheques payable to a named person or entity).

If you need more information about who is considered an MSB, consult FINTRAC’s Interpretation Notice No. 1 called "Engaged in a Money Services Business".