Strengthening Protections Against Money Laundering and Other Financial Crimes
This report assesses how Canada can strengthen its Anti-Money Laundering and Anti-Terrorist Financing (AML/ATF) regime. Drawing on best practices from leading international jurisdictions, it identifies priority areas for reform across three dimensions: regulatory integration (legislative), technical sophistication (monitoring capabilities), and penalty effectiveness (enforcement and deterrence). The analysis employs a cross-national comparative approach, examining legislation, supervisory structures, reporting systems, and enforcement models in peer jurisdictions with comparable financial systems. The report provides targeted policy recommendations for federal and provincial policymakers, supervisory authorities, law enforcement, and reporting entities to enhance coordination, detection, enforcement and overall compliance.