FINTRAC, the Financial Transactions and Reports Analysis Centre of Canada, provides guidelines for businesses to comply with identity verification regulations. To minimize fraud risk and maximize growth while adhering to these regulations, companies can use digital verification technology that offers fast and secure onboarding experiences. This includes methods such as confirming identities in under 30 seconds with a high pass rate, assessing fraud risk using multiple data points, and providing comprehensive money laundering screenings. Digital identity verification solutions like Plaid IDV offer an all-in-one verification solution that simplifies onboarding, prioritizes the fastest verification method, and provides customization options to ensure FINTRAC compliance.