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ARTICLE · 03 NOVEMBER 2026

Canada’s Anti-money Laundering Landscape

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Canada's anti-money laundering framework is experiencing rapid transformation through intensified FINTRAC enforcement, legislative reforms including 40-fold increases in maximum penalties, and evolving judicial guidance. How will these converging developments reshape compliance obligations for financial institutions and other regulated entities operating in an increasingly demanding regulatory environment?

CanadaGovernment, Public Sector
Peter Aziz
Peter Aziz
Marissa Daniels
Marissa Daniels
Jon Silver
Jon Silver
James Flynn
James Flynn
Alex Smith
Alex Smith
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Canada’s anti-money laundering (AML) framework is undergoing a period of rapid transformation, with intensified enforcement by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), new legislative proposals, and emerging judicial guidance from the Federal Court. In this article, we synthesize recent developments and their implications for regulated institutions in Canada, with a focus on FINTRAC and its administrative monetary penalties (AMPs).

Background

The Financial Action Task Force (FATF) has conducted a mutual evaluation of Canada’s AML and anti-terrorist financing (ATF) regime, with the final report released on September 29. FATF is the standard-setting body for measures to combat money laundering, terrorist financing, and other threats to the integrity of the global financial system; its country assessments carry substantial weight. The assessment found that, since its last mutual evaluation, Canada has taken steps to strengthen its defences against

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