Source Feed: The Globe and Mail
Author: Ian Bickis
Publication Date: December 21, 2025 - 08:39
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Fines from Canada’s financial crime watchdog set to dramatically increase
December 21, 2025
The cost of doing business is set to go up, dramatically, for companies that don’t keep a close eye on anti-money laundering obligations.
A broad range of firms that handle large transactions, from jewellers to big banks, face potential penalties 40 times higher than existing rates. The changes are part of Bill C-12, which passed in the House of Commons on Dec. 11 and is waiting for a final stamp of approval from the Senate.
“That legislation, if enacted, will significantly transform the enforcement framework,” said Vladimir Shatiryan, a partner at Blakes who focuses on financial regulations.
Unpublished Newswire
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