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FINTRAC confirms details of tougher AML regime

Photo: Vaughn Ridley/Getty Images

Alexander Barzacanos

2 min read
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Under the new rules, FINTRAC may impose much higher maximum penalties and make greater use of formal tools to force firms to fix compliance problems.

FINTRAC, Canada’s anti-money-laundering (AML) watchdog, has outlined how it will implement its newly strengthened administrative monetary penalty (AMP) framework.

The agency confirmed that violations that occur after March 26, 2026, will be assessed under a new regime that can impose penalties up to 40 times higher than the previous

However, violations that

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