Canada: Money Laundering

On July 2, 2026, the Canada Revenue Agency (CRA) published its updated Guidance on the Common Reporting Standard (Updated CRS Guidance).

A recent Alberta court decision provides critical guidance on Canadian sanctions compliance, examining how businesses must assess whether counterparties are controlled by sanctioned entities through voting power, board composition, and governance structures. The case demonstrates that sanctions screening extends far beyond checking names on official lists, requiring deeper analysis of corporate ownership chains and practical control mechanisms.

Expanding a payment business into Canada requires navigating FINTRAC's Money Services Business registration framework. Understanding the regulatory requirements, compliance obligations, and practical steps for MSB registration helps international payment providers establish compliant operations in one of the world's most established financial markets.

On April 16, 2026, FINTRAC published information on the new initiatives and updates it is implementing as a result of recent or upcoming legislative amendments to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and the Proceeds of Crime (Money Laundering) and Terrorist Financing Administrative Monetary Penalties Regulations.

The Reporter provides a monthly summary of Canadian federal legislative and regulatory developments of relevance to federally regulated financial institutions.

The Canadian Investment Regulatory Organization (CIRO) released its latest annual compliance report (the Report) which details areas of focus for CIRO-regulated dealers in 2026 and beyond.

The Federal Financial Institutions Legislative and Regulatory Reporter (the Reporter) provides a monthly summary of Canadian federal legislative and regulatory developments of relevance to federally regulated...

2026 will see increased compliance and enforcement in Canada's financial services, focusing on anti-money laundering measures and new regulations.

In this article, we highlight the top takeaways from Torys' webinar "Dealing with FINTRAC: Navigating FINTRAC supervision and enforcement", hosted on November 25, 2025.