North York, ON -- (SBWIRE) -- 12/05/2014 -- Outlier Solutions Inc., a premier Anti Money Laundering (AML) and Counter Terrorist Financing (CTF) consulting firm recently made a request under the Freedom of Information Act (FIA) with the Financial Transactions Reports and Analysis Centre of Canada (FINTRAC) for the agency's policy positions from 2008 to the present. Outlier's Founder, Amber D. Scott states "we were very open with FINTRAC about our intention to publish this content free on our site." adding "We believe that information should be free."

A policy position is a decision made by the agency about the application of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and its enacted regulations. In essence, says Scott, policy positions have the power to inform Compliance Officers about what FINTRAC expects from them, and can include very technical guidance on specific issues that are beyond the scope of the general guidelines published by the agency.

Subsequent to their discussion with Scott, FINTRAC made the decision to release the information publicly via their own channels. In order to comply with the FIA, this must happen 90 days of the original request, which was submitted on September 22, 2014. For Canadian reporting entities, the publication of this information is a boon, providing insight into the viewpoint of the agency that enforces AML and CTF requirements. In the Interim, Outlier has published FINTRAC's obsolete policy positions on their blog - https://www.outliercanada.com/fintrac-to-release-policy-positions/

Scott explains, "Reporting entities may still be relying on policy positions that are no longer valid. As a Compliance Officer knowing that these interpretations have changed can be the difference between the success and failure of your compliance program. We hope that once the current policy positions are released, FINTRAC will also release updates when there are relevant changes. Ultimately, it's in Canada's best interest when Compliance Officers have up to date information on compliance expectations from FINTRAC."

Canadian reporting entities can expect to see the full set of policy positions some time in December of this year. It's not clear exactly how and when the information will be released, but Scott states that she has requested that information as well and will post relevant updates via Outlier's website as she receives the information.

About Outlier Solutions Inc.
Outlier Solutions Inc. (Outlier) is a Canadian consulting firm specializing in anti money laundering (AML) and counter terrorist financing (CTF) compliance. Outlier's model is focused on fixed-fee consulting services and oniline on demand products for Canadian reporting entities and technology providers. https://www.outliercanada.com

Media Contact

Outlier Solutions Inc.
163 Viewmount Avenue
North York, ON M6B 1T5
T: 416-919-1623
https://www.outliercanada.com

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Members can also save 20% off of all consulting services

North York, ON -- (SBWIRE) -- 12/05/2014 -- Anti Money Laundering (AML) and Counter TerroristFinancing (CTF) compliance is considered imperative for reporting entities in Canada, including Dealers in Precious Metals and Stones (DPMSs). Compliance requirements are the same across the board, whether you are business is a small entity to large company. For smaller firms, the cost of compliance can astronomical, especially for businesses just beginning to carve their niche.

Outlier Solutions Inc. (Outlier) is dedicated to bridging this gap by helping organizations access AML and CTF program components that can be customized online. Outlier has recently made tools for DPMSs available without cost to members of the Canadian Jewelers' Association (CJA) and Jewelers Vigilance Canada (JVC), in addition to offering a 20% discount on consulting services including Anti-Money Laundering (AML) Compliance Effectiveness Reviews. Outlier's Founder, Amber D. Scott states "We're thrilled to be partnering with CJA and JVC to be offering these tools. Our goal is to make it as easy as possible for Canadian entrepreneurs to run successful businesses."

Outlier is committed to helping clients stay on track without having to commit more time, money or other valuable resources than the business can bear. While Scott says that Outlier is "happy to help customers that want us to be more involved" the online tools "allow DPMSs to build and refine their compliance programs at their convenience, without needing to interact with a consultant unless they want to talk to us."

To unlock the savings, CJA and JVC members should log in from their respective website and then access the selected option by clicking the link. More information on this can be attained from https://www.outliercanada.com/cja-jvc/

About Outlier Solutions Inc.
Outlier Solutions Inc. (Outlier) is a Canadian consulting firm specializing in anti money laundering (AML) and counter terrorist financing (CTF) compliance. Outlier's model is focused on fixed-fee consulting services and online on demand products for Canadian reporting entities and technology providers. https://www.outliercanada.com

Media Contact

Outlier Solutions Inc.
163 Viewmount Avenue
North York, ON M6B 1T5
T: 416-919-1623
https://www.outliercanada.com

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Outlier Supports the Right to Business Banking and Highlights the Danger of De-Risking

North York, ON -- (SBWIRE) -- 11/19/2014 -- Countries around the world today are fighting against terrorism as well as money laundering. Canada is no exception and FINTRAC holds a very crucial position in the group of organizations that are involved in that fight. Skilled staff and automated tools are on a continuous duty for the purpose of extracting financial intelligence that is most relevant for investigation and prosecution of offenses related to money laundering, terrorist activities and threats to the country's security. Today banks and banking service providers are highly regulated especially when it comes to knowing their customers and understanding their transactions.

In Canada, there are many Money Service Businesses and Digital Currency Businesses that offer great services and are helping Canada become a great Country, but are unable to access basic banking facilities. . Although, Outlier helps these MSBs build compliance programs, trainings, risk assessments and effectiveness reviews, the company cannot help these MSBs and digital currency businesses open bank accounts. These are genuine companies working in good faith but are deprived of banking facilities. Outlier, a company that offers anti-money laundering consulting services, supports the right to business banking and highlights the risk of de-risking.

MSBs and Digital currency businesses are generally seen as high risk account holders and subject to enhanced due diligence (where they are able to access banking services). While some banks do not offer any banking services to these companies, other banks offer accounts for higher fees for the purpose of maintaining accounts. Most businesses need a bank account to operate, but many companies cannot get the basic banking facilities. Outlier supports all those businesses who believe in the right to business banking and encourage all of them to contact their Member of Parliament, the Canadian Federation of Independent Businesses (CFIB) and the Canadian MSB Association (CMSBA) to learn more about the current initiatives.

To know more visit https://www.outliercanada.com/why-we-believe-in-the-right-to-business-banking/

About https://www.outliercanada.com/
Outlier Solutions Inc., https://www.outliercanada.com/ based at Ontario, Canada is a consulting firm that offers Anti-Money Laundering (AML) and Counter Terrorist Financing (CTF) solutions for reporting entities such as real estate, money services businesses, casinos, accountancy firms, financial services, digital currency, life insurance companies, securities dealers in Canada and the United States.

Contact:
Outlier Solutions Inc.
Address: 163 Viewmount Avenue, North York, Ontario M6B1T5
Phone: 416-919-1623
Email: amber@outliercanada.com
Website: https://www.outliercanada.com/

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Dealers in Digital Currency to be considered as MSBs in Canada

North York, ON -- (SBWIRE) -- 11/19/2014 -- Although Digital Currencies such as bitcoins and litecoins have widespread acceptance in the virtual currency world, they are not recognized as currency in Canada, but will soon be subject to Canadian anti money laundering (AML) Regulations. Outlier, a company that provides AML consulting services and strategies recommends that dealers in digital currency understand the standards that apply to Money Services Businesses (MSBs) in Canada as per the Canadian while awaiting the draft regulations, which are expected later this year.

Outlier also notes that digital currency dealers and exchanges may be considered as MSBs currently if they carry out certain types of activities (such as foreign exchange or international remittance involving fiat currency). These companies should already have AML compliance programs in place, and have completed a registration with the Financial Transactions and Reports Analysis Center of Canada (FINTRAC). There is no cost for FINTRAC MSB registration. Companies serving customers in the province of Quebec are also required to register with the Authorite des Marches Financiers (AMF), which does have associates registration costs.

Dealers in digital currency who do not currently conduct regulated MSB activities will be considered MSBs once amendments to Canadian regulations approved under Bill C-31 are finalized those dealers who have customers in Canada or are operating in Canada will have to register as MSBs with FINTRAC as well as maintain up to date AML compliance programs.

All businesses that are considered digital currency dealers (a term which has not yet been fully defined) will have an opportunity to comment on consultation papers and draft regulation before final regulation is published. Outlier expects that drafts will be released for comment in Q4 of 2014 or Q1 of 2015, and that there will be a period of at least six months between the release of the final regulation and the point at which companies are expected to be in compliance.

To know more visit https://www.outliercanada.com/canadian-digital-currency-regulation/

About https://www.outliercanada.com/
Outlier Solutions Inc., https://www.outliercanada.com/ based at Ontario, Canada is a consulting firm that offers Anti-Money Laundering (AML) and Counter Terrorist Financing (CTF) solutions for reporting entities such as real estate, money services businesses, casinos, accountancy firms, financial services, digital currency, life insurance companies, and securities dealers Canada.

Contact:
Outlier Solutions Inc.
Address: 163 Viewmount Avenue, North York, Ontario M6B1T5
Phone: 416-919-1623
Email: amber@outliercanada.com
Website: https://www.outliercanada.com/

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Anti-Money Laundering Firm in Canada Helps Businesses to Negotiate Consulting Agreements

North York, ON -- (SBWIRE) -- 11/19/2014 -- Negotiating a consulting contract is no easy task and business firms need to consider various aspects before a proper negotiation. Outlier solutions offers business firms the required assistance to negotiate consulting agreements.

The majority of the large business firms negotiate contracts on a fixed fee basis, but this can be a challenge for small to mid sized firms. Outlier offers contracts on a fixed fee basis. The website says, "The vast majority of Outlier's contracts are fixed-fee, because I believe that this will benefit our clients the most. As a business owner, I understand the value of knowing what you are paying for and how much you will pay before you get started."

Outlier recommends negotiating several aspects of a consulting contract such as the qualification and the skill set of the project staff, the details of the project co-ordinator, the use of sub contractors, charges for travel time, and charges for additional work.

Outlier believes that consulting firms must be able to meet deadlines which are crucial for any business firm. The company offers a clear cut and precise consulting services and strategies which are inclusive of several features. For some industries, such as dealers in precious metals and stones (DPMSs), content can be purchased, customized and downloaded in minutes via the website. Content for other regulated entities is expected in 2015.

This anti money laundering firm bases the company on certain values and principles. Outlier Solutions is based on value, open source and continuous improvement. Customers can know the full value or price of the service even before the company begins its work. In most cases, project deliverables are provided in formats that can be edited or modified by the customer if necessary.

A company representative quotes, "We trust you to be an expert at your business and we know that when we understand your business, we can deliver solutions that make sense for you. We also understand that every business is different and all businesses change over time. The solutions that we provide must always be adaptable not only to regulatory changes, but to the types of changes to your business that keep you on top of the game."

To know more about the company, please log on to: http://www.outliercanada.com/

About Outlier Solutions Inc
Outlier Solution is a business consulting firm that offers counter terrorist financing and anti money laundering solutions to businesses in Canada. This unique consulting firm offers different types of solutions to business firms.

Media Contact

Outlier Solutions Inc.
163 View mount Avenue
North York, ON M6B 1T5
T: 416-919-1623
E: amber@outliercanada.com
W: www.outliercanada.com

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm