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That 27-page compliance deck I built from a fintech template was pure fiction
Tbh I spent 6 weeks last spring building a full risk framework for a small payments startup here in Toronto. I pulled a template from a US fintech blog and swapped in Canadian phrases, but every single policy was invented. The OFSI examiner I showed it to laughed for 10 seconds and said this reads like a spy novel. Found out later the template was written by a marketing firm with zero banking background, and I had put my name on 27 pages of absolute nonsense. Now I only start with the actual FINTRAC guidance PDFs and build up from real requirements. Has anyone else trusted a shiny template and then had a regulator call them out in person?
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julia5491mo ago
Shiny shortcuts always bite back, cheap now costs more later.
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the_grace1mo ago
@julia549, spending a bit more upfront has saved me tons of rework down the road, but I totally get why some go cheap first!
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