Terms of Use

1. Service Agreement

These Terms of Use ("Terms") constitute a binding agreement between you and Himate, a Canadian Money Services Business (MSB) licensed and regulated by FINTRAC (Financial Transactions and Reports Analysis Centre of Canada). By using our services, you agree to comply with all applicable laws and regulations.

2. Regulatory Compliance & AML/KYC

As a Canadian MSB, Himate is subject to:

  • FINTRAC Compliance: We comply with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA)
  • Know Your Customer (KYC): You must complete identity verification before accessing services
  • Know Your Business (KYB): Business accounts require corporate verification and beneficial ownership disclosure
  • Anti-Money Laundering (AML): We monitor all transactions for suspicious activity and report to FINTRAC as required
  • Sanctions Screening: All users and transactions are screened against Canadian and international sanctions lists
  • Beneficial Ownership Reporting: Corporate clients must disclose all beneficial owners (25%+ stakes)

3. Transaction Monitoring & Reporting

Himate monitors all transactions in real-time for:

  • Unusual transaction patterns or velocity
  • High-risk jurisdictions and counterparties
  • Structuring or "smurfing" attempts
  • Terrorist financing indicators
  • Sanctions list matches

Suspicious transactions are reported to FINTRAC within the required timeframe. We may freeze or block transactions pending investigation.

4. Prohibited Activities

You agree not to use Himate for:

  • Money laundering or terrorist financing
  • Sanctions evasion or circumvention
  • Fraud, forgery, or identity theft
  • Illegal goods or services
  • Market manipulation or insider trading
  • Structuring transactions to evade reporting requirements

5. Account Suspension & Termination

Himate reserves the right to suspend or terminate your account if:

  • You violate AML/KYC requirements
  • Suspicious activity is detected
  • You fail to respond to compliance inquiries
  • Your information becomes outdated or inaccurate
  • You engage in prohibited activities

6. Limitation of Liability

Himate is provided "as-is". We are not liable for indirect, incidental, or consequential damages. Our total liability is limited to the fees paid in the preceding 12 months.

7. Governing Law

These Terms are governed by the laws of Canada and the province of Ontario. Any disputes shall be resolved through binding arbitration.

8. Contact & Compliance

For compliance inquiries: [email protected]

Last updated: March 2026