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AML/CTF Policy

Anti-Money Laundering & Counter-Terrorist Financing | Fastcad Solutions Ltd. ("Fastcad")

Fastcad Solutions Ltd. is registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) as a Money Services Business (MSB). We are committed to preventing the use of our platform for money laundering, terrorist financing, or any other illicit activity.

Customer Due Diligence

We apply a risk-based approach to customer identification and verification:

  • Basic verification — Email verification for low-value transactions
  • Enhanced verification (KYC) — Government-issued ID, selfie liveness check, and address verification through our partner Sumsub for higher transaction limits
  • Ongoing monitoring — Continuous screening against sanctions lists, PEP databases, and adverse media

Transaction Monitoring

We monitor all transactions for suspicious activity using both automated systems and manual review:

  • Transactions exceeding $10,000 CAD are reported to FINTRAC as required by law
  • Transactions are screened against known high-risk wallet addresses
  • Unusual patterns (rapid frequency, structured amounts, inconsistent profiles) trigger manual review
  • Wallet addresses associated with mixing/tumbling services, darknet, or sanctioned entities are blocked

Risk Assessment

We evaluate risk based on multiple factors including:

  • Customer profile (identity, location, transaction history)
  • Geographic risk (country of residence, jurisdiction of counterparties)
  • Transaction characteristics (amount, frequency, payment methods)
  • Source of funds and source of wealth

Prohibited Activities

We do not provide services to:

  • Individuals under 18 years of age
  • Persons or entities on sanctions lists (UN, EU, Canadian SEMA/JVCFOA)
  • Residents of countries subject to comprehensive sanctions (Cuba, Iran, North Korea, Syria)
  • Individuals with forged or fraudulent identification documents
  • Persons seeking to transact on behalf of undisclosed third parties

Suspicious Transaction Reporting

When we identify suspicious activity, we file Suspicious Transaction Reports (STRs) with FINTRAC. We are prohibited by law from informing affected customers that a report has been filed (tipping-off prohibition).

Record Keeping

In compliance with Canadian regulations, we maintain records of all customer identification, transactions, and compliance activities for a minimum of 5 years.

Staff Training

All staff members receive regular training on AML/CTF obligations, suspicious activity identification, and reporting procedures.

Contact

For compliance inquiries, contact us at info@fastcad.org.

This policy is reviewed annually. Effective: February 2025.