York Foreign Exchange

Compliance & Regulations

The Financial Transactions and Reports Analysis Centre of Canada, or FINTRAC, is Canada's financial intelligence unit, a specialized agency created to collect, analyze and disclose financial information and intelligence on suspected money laundering and terrorist activities financing . Created in July 2000, the Centre is an integral part of our country's engagement in the global fight against money laundering and the financing of terrorist activities.

York Foreign Exchange adheres to these rules and regulations and has adapted compliance regime and anti-money laundering policies to ensure that company personnel comply with applicable laws and regulations when engaging in foreign exchange services to clients.

In Compliance with current Federal regulations all transaction over $3000.00 Canadian must be accompanied by the following:

1. Declaration of funds

2. Government Issued Identification which includes:

  • Full name
  • Photo
  • Full Address
  • Date of birth

If transaction is conducted on behalf of a corporation or a company, we would require:

1. Articles of Incorporation, or official corporate documents. These documents must indicate the current authorized signing officers for the corporation.

2. An official corporate letter signed by the directors stating what the nature of business is of the transacting company.

3. Copy of photo identification and proof of residence for the signing officer(s) and person(s) transacting on company’s behalf with College Currency. The original photocopies of ID and proof of residence should be presented in person to our offices.

As part of compliance procedure, Cash transactions over $10,000.00 will be reported as LCTR (Large Cash Transaction Report) and international wire transaction will be reported as EFTR (Electronic Fund Transfer Report).

For a complete description of the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) see the link below:


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