Canada accelerates amendments to its AML/CFT regime 

On 7 March 2025, Canada’s Department of Finance announced finalised regulatory amendments under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, known as the PCMLTFA. 

The enforcement date has been bought forward to 1 April 2025, six months earlier than initially planned, accelerating some key changes. 

These changes expand the law’s scope to include factoring companies, cheque cashing businesses, and financing and leasing companies, who were not previously subject to the legislation, requiring them to implement compliance programmes and risk assessments on an accelerated timeline.