FLOURISHING MART LIMITED (FM EXCHANGE), is registered with the Financial Transactions Reports Analysis Centre of Canada ("FINTRAC") as a money service business and FLOURISHING MART INC. (FM EXCHANGE) is also registered in the United States as a Money Service Business with the United States Financial Crimes Enforcement Network (FinCEN) respectively. The entity is able to provide currency exchange dealings and money transfer services to its customers.
In accordance with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (“PCMLTFA”) and associated regulations, FM Exchange has implemented a compliance program that includes:
- Compliance officer: The appointment of a chief compliance officer to supervise the AML/KYC team
- Risk assessment to evaluate all risks related to money laundering and terrorist financing.
- Compliance policies and procedures including AML/Compliance policy, Know Your Customer (“KYC”) procedures, Ongoing monitoring and business relationship, Transaction reporting requirements and Record keeping requirements.
- Compliance training program.
- Regular review of our Policy.
For more information on our AML/KYC policy, please send an email to: fraudmgt@fmexchange.ca
