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Canada Earns Top FATF Rating in Anti-Money-Laundering Review
Finance Minister welcomes FATF and APG mutual evaluation report showing Canada's strong progress in combatting financial crime.
Why it matters
The Financial Action Task Force (FATF) and the Asia Pacific Group on Money Laundering (APG) released their mutual evaluation report of Canada, finding the country's anti-money-laundering, anti-terrorist-financing and counter-proliferation-financing system "broadly effective" and aligned with international standards — the best outcome category available. It is a significant upgrade from Canada's last evaluation in 2016.
Official statement
Finance Minister François-Philippe Champagne said in a statement today that Canada has strengthened prevention and detection capabilities, improved information sharing and introduced new law enforcement tools, backed by a strong legal framework and a hawkish pursuit of bad actors. "This outcome represents not only an improvement of Canada's last evaluation in 2016 but a validation of the work the government is undertaking," he said.
Background
A strong, sustained AML/ATF/CPF regime helps protect Canadians against fraud, organized crime, sanctions evasion and terrorist financing, while inspiring confidence in the integrity of Canada's financial system.
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