2025 Assessment of Money Laundering and Terrorist Financing Risks in Canada

By Canada. Minister of Finance and National Revenue,

Canada has a robust Anti-Money Laundering and Anti-Terrorist Financing (AML/ATF) Regime that contributes to its efforts to combat transnational organized crime and is a key element of its counter-terrorism strategy. It comprises 13 federal departments and agencies with policy, regulatory, intelligence, and enforcement mandates. The federal Regime works with provincial and municipal counterparts and over 38,000 Canadian businesses with reporting obligations under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA), known as reporting entities, to prevent, detect, and disrupt financial crime.

An accurate, nuanced, and up-to-date understanding of risks, informed by an assessment of money laundering and terrorist financing threats, vulnerabilities, and consequences, is the foundation for applying a risk-based approach to combatting these financial crimes in Canada. This includes balancing priorities of protecting the integrity of Canada's financial system and the safety and security of Canadians, respecting privacy and other rights of people in Canada, and mitigating regulatory burden and unintended consequences that may be faced by industry and the clients to whom they provide services.

The 2025 Assessment of Money Laundering and Terrorist Financing Risks in Canada is a comprehensive assessment of the most pressing money laundering and terrorist financing threats and vulnerabilities in Canada. It assesses inherent risks and discusses the mitigation measures put in place to respond to them. Findings are informed through consultations with federal government authorities and external stakeholders, including provincial and territorial governments, the private sector, non-profit organizations, and international partners.

The purpose of this report is to support evidence-based policymaking, resource allocation, and priority setting for public authorities, and to support private sector businesses and non-government organizations to apply focused and proportionate measures to mitigate risks.

Ottawa: Canada. Department of Finance 2025. 126p.