Your Funds Aren’t Safe - The Shocking Truth About Canada’s Light-Touch MSB Licences
- 2 hours ago
- 1 min read
We have all been offered "bank accounts" from various FinTechs over the years. But, the majority of businesses, not knowing any better, believed that Canada's financial regulator must be strong enough to hold their funds safely and securely.
They were all wrong.
Today, anyone with approx 20k USD can launch a business that looks and feels like a "digital bank". Even though FINTRAC has recently tightened its regulations, a Canadian Money Services Business licence is still one of the lightest and cheapest financial licences out there, which unfortunately also motivates scammers and criminals.
Read how easy is to set up and run your own:
