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ARTICLE · 09 NOVEMBER 2026

Bill S-8: Proposed Changes To Canada’s Financial Crime Framework

Borden Ladner Gervais LLP
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Bill S-8, the Combatting Financial Crimes and Drug Trafficking Act (Bill S-8) marks the latest step in Canada’s push to strengthen its financial crime framework.

CanadaFinance and Banking
Stephen Redican
Stephen Redican
Suhuyini Abudulai
Suhuyini Abudulai
Maria Nasr
Maria Nasr
Julie Mansi
Julie Mansi
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Bill S-8, the Combatting Financial Crimes and Drug Trafficking Act (Bill S-8) marks the latest step in Canada’s push to strengthen its financial crime framework. Introduced on November 3, 2026, Bill S-8 would impose new obligations and restrictions on money services businesses (MSBs), crypto ATM operators and businesses handling certain cash transactions.

Bill S-8 comes at a time of heightened scrutiny of Canada’s response to money laundering and other financial crime, alongside growing concerns about organized crime, national security and the use of new technologies to facilitate illicit activity. It also reflects a broader shift toward stronger supervision and enforcement and greater coordination across Canada’s anti-money laundering (AML), payments and national security frameworks. Against that backdrop, Bill S-8 would expand regulatory and law enforcement tools while imposing new operational and compliance requirements on affected businesses.

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