FINTRAC has issued new regulations for financial entities like Float to collect additional screening information from all users by April 30, 2022. Under these new regulations, Float is required to verify identity and retroactively collect the date of birth and home address of all users.
The new regulatory guidelines are explained in full detail on the government of Canada’s website:
https://www.fintrac-canafe.gc.ca/guidance-directives/prepaid-prepaye/1-eng
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