Soteria Protection was founded in Victoria BC after more than 50 years of collective experience inside fintech companies, financial institutions, and technology firms.
Anti-money laundering (AML) and compliance are our specialties but more importantly, our founders (Adam, Darci and Penny) have lived compliance operationally. We have worked daily with the policies, procedures, and internal controls that guide fintech and financial services organizations. We understand that compliance is not theoretical. It operates under commercial pressure, aggressive growth trajectories, investor expectations, and real regulatory scrutiny.
We built Soteria Protection to help businesses succeed in an increasingly complex regulatory environment, with AML compliance at the core of what we do.
Why AML? And why does it matter now?
Many businesses don’t give much thought to AML. The assumption is that the banks and larger institutions look after AML. But we all need to be concerned about financial crime and AML.
If your business is considered a reporting entity in Canada you are legally obligated to maintain an AML compliance program that meets FINTRAC requirements. This is not optional.
Too often, AML is viewed as a necessary hassle or a cost centre. In reality, reporting entities act as financial gatekeepers and that role carries real societal impact.
When illicit funds enter the economy, the consequences extend far beyond regulatory penalties. Money laundering destabilizes markets, undermines business continuity, distorts competition, and erodes trust in institutions. We have seen firsthand how financial crime infiltrates legitimate systems.
Financial crime is not just something in movies. It exists in plain sight.
The proceeds of laundered money are directly linked to organized crime, drug and weapons trafficking, human exploitation, and terrorist financing. Beyond the human toll, money laundering fuels a shadow economy operating largely outside the tax system, weakening public infrastructure and economic stability.
A robust AML program does help avoid regulatory scrutiny from FINTRAC—but it does much more than that. It protects the integrity of the Canadian economy and, by extension, Canadian society.
Financial crime is so pervasive today that vigilance cannot be outsourced. It requires diligence and understanding.
The Canadian AML landscape is shifting
AML compliance in Canada is evolving, and frankly, it needs to.
Other jurisdictions, including Australia, Europe, and the United States, have moved more aggressively in the fight against financial crime. Canada is now accelerating its regulatory posture.
FINTRAC has expanded both its outreach and expectations. The focus is no longer on whether policies exist. Regulators want to know:
- Do your controls actually work?
- Do you understand your risk exposure and residual risk?
- Can you defend your decisions?
Too many businesses rely on generic templates, outdated guidance, or advisors who speak in theory rather than operational accountability.
Soteria Protection was built to close that gap.
AML Compliance should not incite fear
We also understand the anxiety surrounding AML compliance, especially for organizations implementing a program for the first time.
As FINTRAC continues to expand the definition and scope of reporting entities, many businesses are now entering the AML framework for the first time. The reaction is often panic, confusion or total avoidance.
Our goal is to help organizations navigate the evolving AML landscape with clarity and confidence. We work alongside our clients to build programs that are practical, defensible, and aligned with how your business actually operates.
Why the name Soteria?
Soteria comes from the Greek concept of protection, preservation, and deliverance.
The name is intentional.
Our work is not about checking boxes. It is about safeguarding organizations in an environment where the consequences of getting compliance wrong are real—financially, operationally, and reputationally.