Canada can do more to prosecute sophisticated money laundering cases: watchdog report

Canada is making progress in combating money laundering but must improve, says watchdog report. The Financial Action Task Force and the Asia-Pacific Group on Money Laundering released an independent assessment, praising Canada's coordination and financial intelligence use. However, the report highlights a need to strengthen supervision of non-financial sectors such as precious metals dealers and real estate, where organized criminal groups launder proceeds of crime.

Law firms, though subject to rules, aren't fully covered by Canada's anti-money laundering framework. The report, based on a three-week visit in November 2025, includes input from over 700 experts and recommends Canada step up complex money laundering investigations and enforcement, particularly in sectors vulnerable to abuse. Finance Minister François-Philippe Champagne welcomed the report and pledged to review and act on its recommendations.