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ARTICLE · 18 MARCH 2025

Canada's AML Expansion Comes Into Effect Sooner Than Expected On April 1, 2025

McCarthy Tétrault
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This is Part 1 of a two-part series on the accelerated coming-into-force date of AML/ATF amendments. This Part 1 focuses on impact to businesses in the financing and leasing sectors...

CanadaGovernment, Public Sector
TechLex Blog
TechLex Blog
Cindy Zhang
Cindy Zhang
John Boscariol
John Boscariol
Gajan Sathananthan
Gajan Sathananthan
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This is Part 1 of a two-part series on the accelerated coming-into-force date of AML/ATF amendments. This Part 1 focuses on impact to businesses in the financing and leasing sectors (including those in the automobile and high-end luxury industries), factoring businesses, and cheque-cashing businesses, and the status of Canada's new private-to-private information sharing framework. Part 2 will include insights on the new sanctions evasion and obligations for importers and exporters impacted by these amendments.

Contrary to draft amendments released on November 30, 2024 that informed the public the federal government's measures to broaden its anti-money laundering and anti-terrorist financing ("AML/ATF") regime would come in force on October 1, 2025, the Department of Finance recently announced (the "Announcement") that the key amendments codifying these measures will be moved earlier by six months and come into force on April 1, 2025 instead.

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