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ARTICLE · 11 NOVEMBER 2026

A Passing Grade With Homework: Canada's 2026 FATF Mutual Evaluation

DLA Piper
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Canada's latest FATF mutual evaluation reveals significant progress in anti-money laundering compliance since 2016, but identifies critical gaps in prosecutions, supervision of financial institutions...

CanadaFinance and Banking
Eric Belli-Bivar
Eric Belli-Bivar
Nicole Kinley
Nicole Kinley
Emily Segal
Emily Segal

On September 29, 2026, the Financial Action Task Force (FATF) and the Asia-Pacific Group on Money Laundering (APG) published the Mutual Evaluation Report of Canada (the Report). The Report assesses Canada’s anti-money laundering, countering the financing of terrorism, and countering proliferation financing (AML/CFT/CPF) system and its compliance with the FATF Recommendations. While the Report recognizes Canada’s progress since its 2016 mutual evaluation, it identifies several areas for improvement, including strengthening risk-based supervision and enforcement for financial institutions, virtual asset service providers (VASPs), and designated non-financial businesses and professions (DNFBPs). It recommends establishing a pan-Canadian beneficial ownership framework, increasing money laundering prosecutions and convictions, and expanding asset recovery tools.

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