Built for Canadian MSBs and Regulated Institutions
Canada has nearly 1,900 registered Money Service Businesses handling over $616 billion annually. Digital remittances, virtual currencies and fintech adoption continue to grow, increasing both regulatory expectations and fraud risk.
FINTRAC's evolving AML/ATF rules, PCMLTFA requirements, Method 2 and Dual Process verification standards and ongoing sanctions reporting obligations demand structured, auditable compliance systems.
KYC2020 was built to support Canadian MSBs and financial institutions balancing speed, convenience and regulatory defensibility.
One Platform. Complete Compliance Confidence.
KYC2020 unifies Watchlist Screening, Identity Verification and KYB into one AML-first workflow. Every verification step is logged, traceable and aligned with FINTRAC expectations.
- Sanctions, PEP, Regulatory, Criminal and Adverse Media screening
- 193+ countries
- 1,500+ global watchlists
- 25,000+ adverse media sources
- Customizable risk scoring
- Low false positives using contextual AI and deterministic rules
- Proof-of-Decision file with timestamped screening history
- Real-time photo ID and selfie comparison with liveness detection
- Credit-file verification
- Dual Process verification
- Method 2 compliance support
- Proof-of-address checks
- Document tampering detection
- Integrated watchlist and sanctions checks within identity workflow
- Corporate registry verification across 220+ million entities
- Beneficial owner identification and screening
- Website, domain and OSINT risk analysis
- Consolidated KYB reports with registry and risk documentation
- Integrated due diligence linking business, owners and signatories to AML screening
- Continuous screening against sanctions, PEP and adverse media updates
- Configurable monitoring frequency
- Reduced alert fatigue
- Full traceability under evolving FINTRAC guidance
Reduce Workload. Increase Confidence.
Manual screening and alert clearing drain compliance budgets. KYC2020's collaborative intelligence combines contextual AI with customizable human rules to reduce manual review by up to 60%.
Trusted by Canadian MSBs
Alliance TrustRemesas
Bitcoin4U
Sectoral Asset ManagementWellingtonUtillierAdvance Savings Credit Union
"The KYC sanction list screening API solution was a perfect fit for integration into our AML program."
– Roman Halushchak
"As a cryptocurrency company, AML compliance is very important to us. KYC2020's DecisionIQ provides efficient, compliant data and seamless customer experience."
– Frank Maione
Why Canadian Institutions Choose KYC2020
FINTRAC Compliance Requirements for Canadian Financial Institutions
The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) enforces the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA), which requires all Canadian reporting entities - including banks, credit unions, money services businesses (MSBs), securities dealers, casinos, and real estate brokers - to implement AML compliance programs. Key obligations include customer identification using FINTRAC-approved methods, ongoing monitoring of all client relationships, screening against Canadian sanctions lists (OSFI) and international lists (OFAC, UN, EU), identification of Politically Exposed Persons (PEPs) and Heads of International Organizations (HIOs), and maintaining records for a minimum of five years. KYC2020 automates all of these screening and verification functions in a single, audit-ready platform.
What KYC2020 Screens for Canadian Institutions
- Canadian sanctions lists - OSFI (Office of the Superintendent of Financial Institutions)
- International sanctions - OFAC (USA), UN Security Council, EU restrictive measures
- Politically Exposed Persons (PEPs) and Heads of International Organizations (HIOs)
- Relatives and Close Associates (RCAs) of PEPs and HIOs
- Adverse media - 25,000+ global news sources classified by FATF predicate categories
- High-risk business categories - MSBs, cannabis, virtual currency, gaming operators
- Sanctioned cryptocurrency wallet addresses
- Criminal and regulatory enforcement lists across 193+ countries
Frequently Asked Questions - AML Software Canada
Strengthen Your FINTRAC Compliance Framework
Talk to our team about how KYC2020 can reduce your false positive rate, simplify audits and lower your cost of compliance for Canadian operations.
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