World Money Pay - Trusted FINTRAC-Regulated MSB

World Money Pay® – Foreign Exchange, International Remittance & Payments. Buy and Sell USD Foreign Currency. Get Exchange Rates Up to 2% Better Than Banks. Contact Us to Start Saving Today! Highly Secure Process. Cheapest Exchange Fees. Best Rates Guaranteed. FINTRAC-Regulated. MSB Registration Number #M18879370.

In 2016, online transfers continued their remarkable growth expanding to 177 million transactions worth $68 billion. EFT payments have become the most common form of remote commercial payment, growing to account for more transaction volume than cheques by a large margin.

Establishing and implementing a comprehensive and effective compliance program is the basis for meeting all of your reporting, record keeping, client identification and know-your-client requirements under the PCMLTFA and associated Regulations.

There are five required elements of a compliance program. Each is considered to be a pillar of an effective anti-money laundering/anti-terrorist financing (AML/ATF) program. The five pillars are:

  1. The appointment of a person who is responsible for the implementation of the compliance program – compliance officer;
  2. The development and application of written compliance policies and procedures that are kept up-to-date, and include enhanced measures to mitigate high risks;
  3. A risk assessment of your business activities and relationships;
  4. The development and maintenance of a written ongoing compliance training program for employees, agents, and others authorized to act on your behalf; and
  5. The institution and documentation of an effectiveness review of your compliance program (policies and procedures, risk assessment and training program) every two years (minimum) for the purpose of testing its overall effectiveness.

Canada sends over $30 billion in remittances worldwide every year.

Country Rank volume percentage of Total Remittances Sent from Canada
China 1 $5,387,225,438 17%
France 4 $1,685,755,792 5%
Germany 8 $1,052,950,815 3%
India 2 $3,739,767,801 12%
Italy 5 $1,393,745,585 4%
Lebanon 7 $1,108,807,017 3%
Philippines 3 $3,080,379,015 10%
United Kingdom 10 $739,213,877 2%
United States 9 $860,574,646 3%
Vietnam 6 $1,238,597,075 4%
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World Money Pay® - foreign exchange, international remittance & payments. Buy & Sell Foreign Currency. MSB Registration Number #M18879370.Top 10 remittance recipients in 2015 ($US billions): India ($72.2bn), China ($63.9bn), the Philippines ($29.7bn), Mexico ($25.7bn), Nigeria ($20.8bn), the Arab Republic of Egypt ($20.4bn), Pakistan ($20.1bn), Bangladesh ($15.8bn), Vietnam ($12.3bn), Indonesia ($10.5bn)

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