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ARTICLE · 06 APRIL 2026

Canada’s AML Reform Advances: Bill C-12 Brings Hefty Penalties And Higher Compliance Expectations Into Force

McCarthy Tétrault
McCarthy Tétrault
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McCarthy Tétrault

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Parliament has now enacted significant amendments to Canada’s anti-money laundering (AML) regime through the Strong Borders Act (Bill C-12), which, among other things, make hefty penalties...

CanadaMedia, Telecoms, IT, Entertainment
TechLex Blog
TechLex Blog
Cindy Zhang
Cindy Zhang
Vanessa Johnson
Vanessa Johnson
Shalini Mudiyanselage
Shalini Mudiyanselage
Brandon Kain
Brandon Kain
Natalie Kolos
Natalie Kolos
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Parliament has now enacted significant amendments to Canada’s anti-money laundering (AML) regime through the Strong Borders Act (Bill C-12),1 which, among other things, make hefty penalties and increased expectations for AML compliance a reality for businesses in Canada subject to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (Canada)(PCMLTFA) and administered by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).

Not to be confused with Bill C-2 with the same name, Bill C-12 reiterates certain measures proposed in Bill C-2, but on an expedited assent timeline. Bill C-12 received Royal Assent on March 26, 2026.

For our previous discussion about changes in Bill C-2, many of which were carried and brought into force by Bill C-12, read here: “Bill C-2: Canada’s Crusade to Reform AML and Enhance FINTRAC Powers”.

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