Latest news with #PortCoquitlam
Associated Press
a day ago
- Business
- Associated Press
AML Incubator Launches Bank Account Opening Service to Support High-Risk FinTechs and Global MSBs
Port Coquitlam, British Columbia--(Newsfile Corp. - June 27, 2025) - AML Incubator (AMLI), a leading provider of regulatory and compliance solutions for FinTechs and Money Services Businesses (MSBs), is proud to announce the official launch of its Bank Account Opening Support service —designed specifically for high-risk and emerging financial institutions seeking reliable access to banking infrastructure worldwide. [ This image cannot be displayed. Please visit the source: ] Modern global banking access-connecting financial hubs across Toronto, London, Dubai, and Singapore with secure, compliance-driven infrastructure. To view an enhanced version of this graphic, please visit: A new solution for FinTechs and MSBs shut out of banking, AMLI offers expert-led access, even in complex or high-risk sectors. The service provides full-scope support, from customized introductions to regulated financial institutions to management of onboarding documentation, compliance clarifications, and post-approval assistance. Unlike most providers, AMLI does not shy away from risk: if account opening is possible, AMLI will navigate the path. However, no guarantees are made—final approval rests solely with the financial institution. 'We've seen firsthand how access to banking can make or break a FinTech venture—especially for remittance platforms, and startup MSBs,' said Haik Kazarian, Head of Business Development at AML Incubator. 'This service bridges that gap. We don't promise guarantees, but we do everything in our power to get you in the room, positioned for success.' Whether clients are seeking Canadian bank accounts, international IBANs, or multi-currency business solutions, AMLI leverages trusted partnerships with traditional banks, Electronic Money Institutions (EMIs), and Payment Service Providers (PSPs) to find compliant, workable options. The Bank Account Opening service is available as a standalone product or bundled with AMLI's: This integrated approach helps FinTechs align banking access with regulatory readiness from day one. Key Highlights: This launch addresses a persistent problem in the FinTech space: the de-risking trend that has denied banking services to even legitimate, licensed firms. AMLI's pragmatic, fast-moving approach offers a lifeline grounded in regulatory precision. 'Banking access isn't just about compliance—it's about survival,' added Kazarian. 'Our mission is to open doors others can't.' To learn more or book a discovery call, visit Contact: AML Incubator LTD. Email: [email protected] Web: To view the source version of this press release, please visit
CBC
2 days ago
- Health
- CBC
Disability tax credits are critical for some Canadians. But applying for them can cost thousands
Social Sharing When Kathy Meyers heard she could get money back from the Canada Revenue Agency (CRA) through the disability tax credit, she was excited — but the prospect of filling out forms alongside her doctor felt like another burden to her already demanding days. Meyers, a Port Coquitlam, B.C., resident, has Crohn's disease. Her condition is severe — even with an ileostomy and the removal of her colon, she frequents the hospital for months at a time, and is on permanent disability as she is unable to work. So when a friend recommended True North Disability Services to handle the disability tax credit (DTC) applications for Meyers and her 14-year-old son, it felt like a perfect fit. Her husband, who is also disabled, plans to file an application on his own, after his doctor refused to work with a DTC advocacy company. More than a year since she first hired True North, Meyers is still awaiting the outcome of her application. But for her son's successful return, the family was billed more than $7,600 by the company — 20 per cent of the money they received from the CRA, plus GST. According to 2018 figures from the CRA, these businesses charge people anywhere from 15 to 40 per cent in contingency fees for their services. That's money Meyers says could have gone a long way for her low-income family, as the funds they received from the CRA have so far gone right back out the door to pay bills and debts. It also comes on top of two $150 fees she still owes her doctor, who was responsible for filling in all but two of the 16-page DTC forms for both Meyers and her son. Meyers says she regrets using a DTC company — especially now knowing free alternatives exist. "It's been very stressful and financially it's been very hard," Meyers said. "I think they're abusing the people that are in need of obtaining this disability tax credit because they're taking such a big chunk of the rebate." The CRA estimates applications for the DTC will triple in the next five to six years because it's the main requirement to get the new monthly $200 Canada Disability Benefit, which will begin payments in July. But there remains limited awareness of free or lower cost help — with many people turning to True North and other DTC advocacy companies that offer to simplify the application process for a percentage of the return. DTC companies say their fees — which are only charged in the case of successful applications — are critical to fund support for filing DTC applications, and also to fuel their advocacy for clients to the CRA and medical professionals. Along with non-profits and other groups that provide free help, there are other services that charge a flat rate fee, typically a few hundred dollars. Former MP Carla Qualtrough, who pushed for the creation of the Canada Disability Benefit in her time as minister of employment, workforce development and disability inclusion, is critical of the DTC application system — and the companies that profit from money intended for people with disabilities. She says hearing about what Meyers's family is facing is heartbreaking. "It feels like people are being taken advantage of," she said. "It's really frustrating to me, because the whole point of these benefits is poverty reduction, is helping people pay for the things they desperately need, and then they are being charged thousands and thousands of dollars." The federal government has attempted to limit the fees to $100 — but an injunction from the B.C. Supreme Court in 2021 halted this, following a legal challenge by True North and its co-founder Shane Nercessian. A trial has been scheduled for July 2026. DTC companies rely on fees When reached by the CBC over the phone and email, Nercessian declined interview requests. The 2021 injunction ruling described Nercessian's argument against restricting fees. "Mr. Nercessian deposes that the $100 maximum fee cap as set out in the Regulation would only cover basic data entry and processing, leaving little to no room to assist with issues involving eligibility, advocacy on behalf of the client … and work with the certifying health professional, and other associated services," reads the ruling. "In the result, most, if not all, DTC companies will be driven out of business as it will no longer be economical to provide many DTC services." The ruling also provides an overview of the services True North provides for clients, including a 10-year tax assessment, explaining the application and eligibility criteria to medical professionals, and filing objections if clients are "unjustly denied." In an email to the CBC, Nercessian said True North is part of the Disability Tax Fairness Alliance and played a "pivotal role" in exposing issues with insulin-dependent diabetics being denied benefits. There are former clients who say they are grateful for True North's help with their applications, such as Kathy Johnson, a resident of Blue River, B.C. About $1,900 of the more than $9,000 she received back from the DTC went to True North. Though Johnson wasn't aware of free options prior to applying, she didn't feel she had the time and energy to do it herself — and says she would recommend True North to others. "Really, I do have no regrets," she said. Others do have regrets, like Leanne King, who has diabetes and polycystic kidney disease. She says she likely wouldn't have spent $3,850 with True North if she had known alternatives existed. "I just wasn't capable at the time of managing all that they did," she said. "I do think it's a lot [of money], and I do think it's a little bit predatory, because they're dealing with people that are sick." Medical experts call for application to be streamlined The Canadian Medical Association, Doctors of B.C. and disability advocates are among those calling for the DTC process to be simplified, to reduce the burden on both medical professionals and people with disabilities. Dr. Charlene Lui, president of Doctors of B.C., says the time-consuming forms cause "significant moral distress for all physicians," as it takes them away from patients who already have limited access to doctors. "Ideally, the form would be shortened, made easier to fill out, and be embedded within the electronic record," said Lui. The CRA says it "significantly overhauled" the application process by digitizing it in 2023, sparked by concerns in the medical industry. When asked about whether it may streamline further with suggestions posed by Lui — such as accepting a doctor's note or forms compatible with existing files — the CRA said it is bound by legislation. "The CRA continues its efforts to make the DTC more accessible, aligning with the [Disability Advisory Committee's] recommendations to ensure that individuals with disabilities can access the credit without financial burden," the statement reads. Minister of Jobs and Families Patty Hajdu was unavailable for an interview, and her office did not respond to specific questions from the CBC. The ministry said Canada is funding $23.5 million for six disability non-profits to help people access benefits including the DTC for free, and $243 million to eliminate out-of-pocket fees for medical providers to fill out DTC forms. "The Government of Canada has committed to further reviewing and reforming the process to apply for the Disability Tax Credit," said the ministry in a statement. To Qualtrough, the issue lies with the lack of a consistent approach to disability support in Canada. Ideally, she says, people should be able to undergo a one-step process to access all provincial and federal disability benefit programs. "We're asking tax analysts to decide and serve as the gatekeepers for these really important social benefits, it's just not the right fit," she said.
CTV News
4 days ago
- Sport
- CTV News
Terry Fox's replica three-stripe runners worn in his 1980 ‘Marathon of Hope' to be released
The classic three-stripe Adidas runners that Terry Fox wore during his Marathon of Hope in 1980. (Terry Fox Exhibit) In 1980, a 21-year-old from Port Coquitlam, British Columbia set out on one of the most courageous journeys in Canadian history. With one prosthetic leg, an inspiring mission, and a pair of Adidas Orion running shoes, Terry Fox began his Marathon of Hope. After losing his right leg to cancer at age 18, Terry set out from St. Johns Newfoundland, on April 12, 1980 to tackle 5,373 kilometres in just 143 days. Now, 45 years later, that legacy continues. To mark the anniversary of the Canadian inspiration, a global leader in the sporting goods industry, Adidas is re-releasing the same iconic running shoe Terry wore during his nationwide telethon: the Adidas Orion. Terry Fox runs through northern Ontario Terry Fox runs through northern Ontario on Aug. 13, 1980. (Dennis Robinson/The Globe and Mail via CP) The symbolic shoe features a navy blue and white design, accented with gold 'Terry Fox' lettering and commemorative shoelaces - nearly similar to the pair Terry wore. 'It's heart-warming to see Canadians across the country continue to resonate with Terry's legacy more than 45 years later,' said Fred Fox, Terry's older brother. 'We hope that these shoes will serve as an inspirational reminder that it's up to all of us to finish the marathon against cancer that Terry started.' The sneaker will be available for purchase at starting July 3. All proceeds will go directly towards supporting life-changing cancer research across the nation, according to Adidas, a global leader in the sporting goods industry. The Orion was last re-released in 2020 for the 40th anniversary of the Marathon of Hope, it quickly became one of Adidas Canada's most celebrated product launches. (Adidas Canada) On July 3, adidas Canada will re-release a limited number of the classic three-stripe runners that Terry Fox wore during his Marathon of Hope in 1980. (Adidas Canada) The return of the shoe is expected to be just as impactful not just as a collector's item, but as a symbol of resilience and unity. On September 14, the 45th annual Terry Fox Run kicks off across the country. Participants who register and secure 45 sponsors will be entered into a draw to win a pair of the limited-edition shoes. Promoting the Terry Fox spirit all year long, is a local Barrie charity organization, to 'team up for Terry' and embark on the run which takes place annually in our region, click here. People around the world of all ages, backgrounds, and abilities have been inspired by Terry's enduring legacy. Through the generous support, the Terry Fox Foundation says they have raised more than $950 million and funded over 1,300 innovative cancer research projects, bringing hope to millions of Canadians.
CTV News
5 days ago
- CTV News
‘Tragic incident' at Metro Vancouver pool not criminal in nature, RCMP say
A 'tragic incident' forced the closure of a public swimming pool in Port Coquitlam, B.C., Sunday morning, according to officials. The City of Port Coquitlam posted a brief statement to social media around 7:30 a.m., saying Centennial Pool is closed 'until further notice' and that a police investigation was underway. 'While we are unable to share details at this time, we are supporting the RCMP as they carry out their investigation. Thank you for your understanding. Our thoughts are with those affected,' the statement from the city said. CTV News asked the RCMP for more information. A spokesperson said criminality has been ruled out and the investigation has been turned over to the BC Coroners Service.
CTV News
6 days ago
- CTV News
RCMP investigating ‘tragic incident' at Metro Vancouver pool
Centennial Pool in Port Coquitlam was closed after a "tragic incident" on Sunday, June 22, 2025. A 'tragic incident' forced the closure of a public swimming pool in Port Coquitlam, B.C., Sunday morning, according to officials. The City of Port Coquitlam posted a brief statement to social media around 7:30 a.m., saying Centennial Pool is closed 'until further notice' and that a police investigation is underway. 'While we are unable to share details at this time, we are supporting the RCMP as they carry out their investigation. Thank you for your understanding. Our thoughts are with those affected,' the statement from the city said. CTV News has asked the RCMP for more information. This story will be updated when a response is received.
