Canada — Country Risk Report
Canada (Americas • North America). Risk report as of the 19 Jun 2026 FATF plenary.
Moderate country risk, with AML/CFT effectiveness gaps. Canada's country risk score is 3.7/10, placing it in the moderate-risk band. The principal score driver is AML/CFT effectiveness, contributing 2.5 of 3.7 points. Separately, the treatment overlays show that Canada is not currently FATF grey- or black-listed, and that Canada is not subject to comprehensive country-wide sanctions and has no direct country-level programme identified. Firms should apply additional scrutiny where exposure involves state-linked entities, restricted sectors, sensitive technology, dual-use goods or politically exposed counterparties.
Recommended treatment
Standard due diligence for most relationships, with enhanced checks where defined risk triggers are present.
At a glance
- FATF status: Not currently listed (one indicator only; it does not set the overall country risk rating by itself)
- No direct country-level sanctions programme identified; sanctions remain a legal treatment overlay and applicable lists must still be screened.
- Governance and institutions: 1.9/10
- Corruption (CPI 2025): 75/100, rank #16 of 182
- Enforcement: 2 live regulator feeds; current totals are loaded from the live evidence API
Country Risk Score: 3.7/10 (Moderate)
Higher score means higher country risk (global average 5.5). Full information available. Composite score. Limited supporting evidence. Enforcement activity and CPI are context only; FATF listing and sanctions are regulatory overlays except the labelled FATF listing status used where no mutual evaluation exists.
All three underlying risk pillars are available. All three underlying risk pillars are available and weighted using the published formula. Weight sensitivity 3.6–3.9/10.
How this score was calculated
- AML/CFT effectiveness: 5.5/10 — 45% of this score
- Technical compliance: 3.0/10 — 20% of this score
- Governance and institutions: 1.9/10 — 35% of this score
Sanctions treatment: No direct programme identified. FATF treatment: none.
Show the exact calculation
effectiveness 5.5 × 45% + safeguards 3 × 20% + governance 1.9 × 35% = 3.7; sanctions and FATF listing are overlays except a labelled FATF listing substitute where no mutual evaluation exists
Principal risk drivers
- AML/CFT effectiveness: 5.5/10 × 45% = 2.5 points
- Governance and institutions: 1.9/10 × 35% = 0.7 points
- Technical compliance: 3.0/10 × 20% = 0.6 points
Mitigating factors
- Not currently on the FATF grey or black list.
- No comprehensive country-wide sanctions programme.
- Comparatively stronger voice and accountability (1.7/10).
- Risk is concentrated in specific counterparties, sectors and transactions rather than applying uniformly.
Business impact
- Customer onboarding (Standard): Verify ultimate beneficial ownership and control from more than one source.
- Payments and transactions (Elevated): Review transaction purpose, counterparties and the full payment routing.
- Trade and export activity (Elevated): Screen goods, end users and potential dual-use exposure.
- Corporate clients (Standard): Assess state ownership, government links and political exposure.
- Ongoing monitoring (Elevated): Alert on ownership changes, new designations and status changes.
Recommended controls
- Verify ultimate beneficial ownership using more than one reliable source.
- Identify state ownership, government influence and politically exposed persons.
- Screen entities, directors and beneficial owners against applicable sanctions lists.
- Apply enhanced review to technology, defence, telecommunications, financial services and dual-use activity.
- Document transaction purpose and source of funds where cross-border structures are complex.
- Escalate unresolved ownership opacity or adverse information to Compliance.
Enhanced due diligence triggers
- State ownership / control
- PEP involvement
- Sensitive / restricted sectors
- Opaque ownership
- Adverse media
- Dual-use goods & technology
- High-risk intermediary routing
FATF status: Not currently listed
Canada is not on the FATF grey or black list as of the 19 Jun 2026 plenary.
Source details
International sanctions by issuing body
- UN: No
- EU: No
- UK: No
- US: No
No means the complete UN, UK, EU and US review found no direct country-level programme. People or organisations may still appear on sanctions lists.
Government effectiveness and rule of law (World Bank 2024, percentile)
- Government Effectiveness: 86/100
- Regulatory Quality: 76/100
- Rule of Law: 82/100
Enforcement activity
RegActions has 2 live regulator feeds mapped to Canada. Current action totals are loaded from the live evidence API rather than the static registry.
- OSC — Ontario Securities Commission (live feed, 2003-2026)
- CIRO — Canadian Investment Regulatory Organization (live feed, 2019-2026)
The composite RegActions Country Risk Score does not use enforcement volume.
Regulators and legal framework
FATF network
FATF member.
Last mutual evaluation: 2016 · report
National regulators
- OSC — Ontario Securities Commission (live feed, 2003-2026)
- CIRO — Canadian Investment Regulatory Organization (live feed, 2019-2026)
FIU: Egmont Group member (FINTRAC)
Framework signals
- FATF listing: Not currently listed
- International sanctions: no direct country programme identified (legal treatment overlay remains applicable)
- BO register: Public (live since 2024)
- Corruption (CPI 2025): 75/100, rank #16 of 182
- Rule of law (WGI): 1.9/10 risk
Regulatory ecosystem and enforcement visibility
This evidence map is separate from Country Risk v3. It describes official mandates, publication access and RegActions coverage; it does not judge regulatory strength or add points to country risk.
Transparency Index: not scored · Evidence disposition: local-authority-evidence · Mapped official authorities: 8.
Evidence level: Level 3: Enforcement visible. The ladder uses the authority evidenceLevel schema directly and does not infer a level from a URL, site access or RegActions feed count.
- 1. Identity confirmed — The authority and its mandate are evidenced by official directory provenance.
- 2. Regulatory activity visible — A qualified authority-owned route has provisional dated activity in the first-page scan.
- 3. Enforcement visible — A qualified authority-owned enforcement route has provisional dated activity in the first-page scan.
- 4. Score eligible — Shown only when the authority evidence schema explicitly records score-eligible; no authority currently does.
How to read activity and enforcement visibility
Only qualified authority-owned routes can support Level 2 or Level 3. External official context and unqualified candidates do not promote the evidence level. Blocked and unavailable sources remain unknown.
Enforcement visibility: 2 authorities are classified enforcement-visible by the authority evidence schema, based on qualified authority-owned route evidence and provisional first-page month observations. This is not a validated engagement frequency.
Authorities and mandate evidence
Alberta Securities Commission — Level 1: Identity confirmed · Official site reachable
Mandates: Securities · Access status: Official site reachable · Research/publication snapshot checked: 2026-08-20
Provisional first-page scan signal
Signal: unknown · Observed month count: 0 · Latest observed month: unknown.
No qualified authority-owned dated route supports an activity signal. This is not evidence of inactivity; blocked, external-context, low-frequency and unvalidated sources remain unknown.
Scan contract and precision
automated-first-page-date-scan · 2024-01 to 2026-08 · as of 2026-08-20 · month precision · first-page-only-unvalidated. This is not a validated engagement frequency.
Publication candidates and qualification
- Unqualified publication candidate: ASC Hearings
Research candidate only; it is not promoted to an official enforcement or regulatory-update route.
Route type: not classified · Source scope: not classified · Qualification: not classified · Provisional scan signal: not-observable · Observed months: 0 · Latest observed month: unknown
- Unqualified publication candidate: ASC HEARINGS
Research candidate only; it is not promoted to an official enforcement or regulatory-update route.
Route type: not classified · Source scope: not classified · Qualification: not classified · Provisional scan signal: not-observable · Observed months: 0 · Latest observed month: unknown
- Unqualified publication candidate: Submit a Whistleblower Tip
Research candidate only; it is not promoted to an official enforcement or regulatory-update route.
Route type: not classified · Source scope: not classified · Qualification: not classified · Provisional scan signal: not-observable · Observed months: 0 · Latest observed month: unknown
- Unqualified publication candidate: Decisions and Orders
Research candidate only; it is not promoted to an official enforcement or regulatory-update route.
Route type: not classified · Source scope: not classified · Qualification: not classified · Provisional scan signal: not-observable · Observed months: 0 · Latest observed month: unknown
- Unqualified publication candidate: Decisions & Orders
Research candidate only; it is not promoted to an official enforcement or regulatory-update route.
Route type: not classified · Source scope: not classified · Qualification: not classified · Provisional scan signal: not-observable · Observed months: 0 · Latest observed month: unknown
- Unqualified publication candidate: Enforcement
Research candidate only; it is not promoted to an official enforcement or regulatory-update route.
Route type: not classified · Source scope: not classified · Qualification: not classified · Provisional scan signal: not-observable · Observed months: 0 · Latest observed month: unknown
- Unqualified publication candidate: Appearing Before the ASC
Research candidate only; it is not promoted to an official enforcement or regulatory-update route.
Route type: not classified · Source scope: not classified · Qualification: not classified · Provisional scan signal: not-observable · Observed months: 0 · Latest observed month: unknown
- Unqualified publication candidate: Electronic Document Guidelines
Research candidate only; it is not promoted to an official enforcement or regulatory-update route.
Route type: not classified · Source scope: not classified · Qualification: not classified · Provisional scan signal: not-observable · Observed months: 0 · Latest observed month: unknown
- Unqualified publication candidate: Remote Hearing Guidelines
Research candidate only; it is not promoted to an official enforcement or regulatory-update route.
Route type: not classified · Source scope: not classified · Qualification: not classified · Provisional scan signal: not-observable · Observed months: 0 · Latest observed month: unknown
- Unqualified publication candidate: Status of Current Proceedings
Research candidate only; it is not promoted to an official enforcement or regulatory-update route.
Route type: not classified · Source scope: not classified · Qualification: not classified · Provisional scan signal: not-observable · Observed months: 0 · Latest observed month: unknown
- Unqualified publication candidate: Other proceedings
Research candidate only; it is not promoted to an official enforcement or regulatory-update route.
Route type: not classified · Source scope: not classified · Qualification: not classified · Provisional scan signal: not-observable · Observed months: 0 · Latest observed month: unknown
- Unqualified publication candidate: Notices, Decisions & Orders
Research candidate only; it is not promoted to an official enforcement or regulatory-update route.
Route type: not classified · Source scope: not classified · Qualification: not classified · Provisional scan signal: not-observable · Observed months: 0 · Latest observed month: unknown
- Unqualified publication candidate: Unpaid Orders
Research candidate only; it is not promoted to an official enforcement or regulatory-update route.
Route type: not classified · Source scope: not classified · Qualification: not classified · Provisional scan signal: not-observable · Observed months: 0 · Latest observed month: unknown
- Unqualified publication candidate: Learn more
Research candidate only; it is not promoted to an official enforcement or regulatory-update route.
Route type: not classified · Source scope: not classified · Qualification: not classified · Provisional scan signal: not-observable · Observed months: 0 · Latest observed month: unknown
- Unqualified publication candidate: Automatic Reciprocation
Research candidate only; it is not promoted to an official enforcement or regulatory-update route.
Route type: not classified · Source scope: not classified · Qualification: not classified · Provisional scan signal: not-observable · Observed months: 0 · Latest observed month: unknown
- Unqualified publication candidate: Enforcement
Research candidate only; it is not promoted to an official enforcement or regulatory-update route.
Route type: enforcement_archive · Source scope: external-unqualified · Qualification: manual-review-required · Provisional scan signal: no-dated-first-page-signal · Observed months: 0 · Latest observed month: unknown
- Unqualified publication candidate: News Release 07.09.2026 ASC sanctions Glenn Hunter, Kyle Watters, HW & Associates Inc. and HW TradeFX LLC
Research candidate only; it is not promoted to an official enforcement or regulatory-update route.
Route type: not classified · Source scope: not classified · Qualification: not classified · Provisional scan signal: not-observable · Observed months: 0 · Latest observed month: unknown
- Unqualified publication candidate: Investment Caution List
Research candidate only; it is not promoted to an official enforcement or regulatory-update route.
Route type: not classified · Source scope: not classified · Qualification: not classified · Provisional scan signal: not-observable · Observed months: 0 · Latest observed month: unknown
- Unqualified publication candidate: NOTICES, DECISIONS AND ORDERS
Research candidate only; it is not promoted to an official enforcement or regulatory-update route.
Route type: not classified · Source scope: not classified · Qualification: not classified · Provisional scan signal: not-observable · Observed months: 0 · Latest observed month: unknown
- Unqualified publication candidate: ASC Hearings
Autorité des marchés financiers — Level 1: Identity confirmed · Official site reachable
Mandates: Securities, Insurance · Access status: Official site reachable · Research/publication snapshot checked: 2026-08-20
Provisional first-page scan signal
Signal: unknown · Observed month count: 0 · Latest observed month: unknown.
No qualified authority-owned dated route supports an activity signal. This is not evidence of inactivity; blocked, external-context, low-frequency and unvalidated sources remain unknown.
Scan contract and precision
automated-first-page-date-scan · 2024-01 to 2026-08 · as of 2026-08-20 · month precision · first-page-only-unvalidated. This is not a validated engagement frequency.
No publication candidate is qualified. Regulatory activity and enforcement visibility remain unknown.
Bank of Canada — Level 1: Identity confirmed · Official site challenge-protected
Mandates: Central bank · Access status: Official site challenge-protected · Research/publication snapshot checked: 2026-08-20
Provisional first-page scan signal
Signal: unknown · Observed month count: unknown · Latest observed month: unknown.
Source access was limited during this research check, so activity remains unknown. This is not evidence of inactivity.
Scan contract and precision
automated-first-page-date-scan · 2024-01 to 2026-08 · as of 2026-08-20 · month precision · first-page-only-unvalidated. This is not a validated engagement frequency.
Publication candidates and qualification
- Unqualified publication candidate: See more
Research candidate only; it is not promoted to an official enforcement or regulatory-update route.
Route type: not-observable · Source scope: not-observable · Qualification: browser-review-required · Provisional scan signal: unknown · Observed months: unknown · Latest observed month: unknown
- Unqualified publication candidate: Bank of Canada to begin publishing Notices of Violation by Payment Service Providers
Research candidate only; it is not promoted to an official enforcement or regulatory-update route.
Route type: not classified · Source scope: not classified · Qualification: not classified · Provisional scan signal: unknown · Observed months: unknown · Latest observed month: unknown
- Unqualified publication candidate: Subscribe to Market notices
Research candidate only; it is not promoted to an official enforcement or regulatory-update route.
Route type: not classified · Source scope: not classified · Qualification: not classified · Provisional scan signal: unknown · Observed months: unknown · Latest observed month: unknown
Activity and enforcement visibility remain unknown; this access limitation does not establish that the authority has no enforcement activity.
- Unqualified publication candidate: See more
British Columbia Securities Commission — Level 1: Identity confirmed · Official site challenge-protected
Mandates: Securities · Access status: Official site challenge-protected · Research/publication snapshot checked: 2026-08-20
Provisional first-page scan signal
Signal: unknown · Observed month count: unknown · Latest observed month: unknown.
Source access was limited during this research check, so activity remains unknown. This is not evidence of inactivity.
Scan contract and precision
automated-first-page-date-scan · 2024-01 to 2026-08 · as of 2026-08-20 · month precision · first-page-only-unvalidated. This is not a validated engagement frequency.
Publication candidates and qualification
- Unqualified publication candidate: Enforcement FAQs
Research candidate only; it is not promoted to an official enforcement or regulatory-update route.
Route type: not classified · Source scope: not classified · Qualification: not classified · Provisional scan signal: unknown · Observed months: unknown · Latest observed month: unknown
- Unqualified publication candidate: Instruments, Policies & Notices
Research candidate only; it is not promoted to an official enforcement or regulatory-update route.
Route type: not classified · Source scope: not classified · Qualification: not classified · Provisional scan signal: unknown · Observed months: unknown · Latest observed month: unknown
- Unqualified publication candidate: Instruments, Policies & Notices (prior to 2000)
Research candidate only; it is not promoted to an official enforcement or regulatory-update route.
Route type: not classified · Source scope: not classified · Qualification: not classified · Provisional scan signal: unknown · Observed months: unknown · Latest observed month: unknown
- Unqualified publication candidate: BC Notices
Research candidate only; it is not promoted to an official enforcement or regulatory-update route.
Route type: not classified · Source scope: not classified · Qualification: not classified · Provisional scan signal: unknown · Observed months: unknown · Latest observed month: unknown
- Unqualified publication candidate: Enforcing securities law
Research candidate only; it is not promoted to an official enforcement or regulatory-update route.
Route type: not-observable · Source scope: not-observable · Qualification: browser-review-required · Provisional scan signal: unknown · Observed months: unknown · Latest observed month: unknown
- Unqualified publication candidate: Administrative Enforcement
Research candidate only; it is not promoted to an official enforcement or regulatory-update route.
Route type: not classified · Source scope: not classified · Qualification: not classified · Provisional scan signal: unknown · Observed months: unknown · Latest observed month: unknown
- Unqualified publication candidate: Notices of Hearing and Temporary Orders
Research candidate only; it is not promoted to an official enforcement or regulatory-update route.
Route type: not classified · Source scope: not classified · Qualification: not classified · Provisional scan signal: unknown · Observed months: unknown · Latest observed month: unknown
- Unqualified publication candidate: Settlements
Research candidate only; it is not promoted to an official enforcement or regulatory-update route.
Route type: not classified · Source scope: not classified · Qualification: not classified · Provisional scan signal: unknown · Observed months: unknown · Latest observed month: unknown
- Unqualified publication candidate: Decisions
Research candidate only; it is not promoted to an official enforcement or regulatory-update route.
Route type: not classified · Source scope: not classified · Qualification: not classified · Provisional scan signal: unknown · Observed months: unknown · Latest observed month: unknown
- Unqualified publication candidate: Automatic Reciprocal Orders
Research candidate only; it is not promoted to an official enforcement or regulatory-update route.
Route type: not classified · Source scope: not classified · Qualification: not classified · Provisional scan signal: unknown · Observed months: unknown · Latest observed month: unknown
- Unqualified publication candidate: Administrative Penalties Imposed by Notice
Research candidate only; it is not promoted to an official enforcement or regulatory-update route.
Route type: not classified · Source scope: not classified · Qualification: not classified · Provisional scan signal: unknown · Observed months: unknown · Latest observed month: unknown
- Unqualified publication candidate: Administrative Sanctions
Research candidate only; it is not promoted to an official enforcement or regulatory-update route.
Route type: not classified · Source scope: not classified · Qualification: not classified · Provisional scan signal: unknown · Observed months: unknown · Latest observed month: unknown
- Unqualified publication candidate: Returning Funds to Investors
Research candidate only; it is not promoted to an official enforcement or regulatory-update route.
Route type: not classified · Source scope: not classified · Qualification: not classified · Provisional scan signal: unknown · Observed months: unknown · Latest observed month: unknown
- Unqualified publication candidate: Sanction Payment Status List
Research candidate only; it is not promoted to an official enforcement or regulatory-update route.
Route type: not classified · Source scope: not classified · Qualification: not classified · Provisional scan signal: unknown · Observed months: unknown · Latest observed month: unknown
- Unqualified publication candidate: Disciplined List
Research candidate only; it is not promoted to an official enforcement or regulatory-update route.
Route type: not classified · Source scope: not classified · Qualification: not classified · Provisional scan signal: unknown · Observed months: unknown · Latest observed month: unknown
- Unqualified publication candidate: Criminal Enforcement
Research candidate only; it is not promoted to an official enforcement or regulatory-update route.
Route type: not classified · Source scope: not classified · Qualification: not classified · Provisional scan signal: unknown · Observed months: unknown · Latest observed month: unknown
- Unqualified publication candidate: Past Cases
Research candidate only; it is not promoted to an official enforcement or regulatory-update route.
Route type: not classified · Source scope: not classified · Qualification: not classified · Provisional scan signal: unknown · Observed months: unknown · Latest observed month: unknown
- Unqualified publication candidate: Early Intervention
Research candidate only; it is not promoted to an official enforcement or regulatory-update route.
Route type: not classified · Source scope: not classified · Qualification: not classified · Provisional scan signal: unknown · Observed months: unknown · Latest observed month: unknown
- Unqualified publication candidate: Operation Avalanche
Research candidate only; it is not promoted to an official enforcement or regulatory-update route.
Route type: not classified · Source scope: not classified · Qualification: not classified · Provisional scan signal: unknown · Observed months: unknown · Latest observed month: unknown
- Unqualified publication candidate: Investment Caution List
Research candidate only; it is not promoted to an official enforcement or regulatory-update route.
Route type: not classified · Source scope: not classified · Qualification: not classified · Provisional scan signal: unknown · Observed months: unknown · Latest observed month: unknown
Activity and enforcement visibility remain unknown; this access limitation does not establish that the authority has no enforcement activity.
- Unqualified publication candidate: Enforcement FAQs
Canadian Association of Pension Supervisory Authorities — Level 1: Identity confirmed · Official site reachable
Mandates: Pensions · Access status: Official site reachable · Research/publication snapshot checked: 2026-08-20
Provisional first-page scan signal
Signal: unknown · Observed month count: 0 · Latest observed month: unknown.
No qualified authority-owned dated route supports an activity signal. This is not evidence of inactivity; blocked, external-context, low-frequency and unvalidated sources remain unknown.
Scan contract and precision
automated-first-page-date-scan · 2024-01 to 2026-08 · as of 2026-08-20 · month precision · first-page-only-unvalidated. This is not a validated engagement frequency.
No publication candidate is qualified. Regulatory activity and enforcement visibility remain unknown.
Financial Transactions and Reports Analysis Centre of Canada (FINTRAC-CANAFE) — Level 3: Enforcement visible · Official site reachable
Mandates: Financial intelligence · Access status: Official site reachable · Research/publication snapshot checked: 2026-08-20
Provisional first-page scan signal
Signal: recent · Observed month count: 26 · Latest observed month: 2026-07.
Provisional automated first-page date scan on an authority-owned qualified route. It is not a validated publication frequency or effectiveness measure.
Scan contract and precision
automated-first-page-date-scan · 2024-01 to 2026-08 · as of 2026-08-20 · month precision · first-page-only-unvalidated. This is not a validated engagement frequency.
Publication candidates and qualification
- Unqualified publication candidate: Assessment and enforcement
Research candidate only; it is not promoted to an official enforcement or regulatory-update route.
Route type: not classified · Source scope: not classified · Qualification: not classified · Provisional scan signal: not-observable · Observed months: 0 · Latest observed month: unknown
- Official authority-owned enforcement route: Enforcement actions taken
Authority-owned and approved for the human-reviewed route contract.
Route type: enforcement_archive · Source scope: authority-owned · Qualification: approved-for-human-contract · Provisional scan signal: frequent-first-page-signal · Observed months: 26 · Latest observed month: 2026-07
- Unqualified publication candidate: Assessment and enforcement
Office of the Superintendent of Financial Institutions — Level 1: Identity confirmed · Official site reachable
Mandates: Prudential supervision, Insurance · Access status: Official site reachable · Research/publication snapshot checked: 2026-08-20
Provisional first-page scan signal
Signal: unknown · Observed month count: 0 · Latest observed month: unknown.
No qualified authority-owned dated route supports an activity signal. This is not evidence of inactivity; blocked, external-context, low-frequency and unvalidated sources remain unknown.
Scan contract and precision
automated-first-page-date-scan · 2024-01 to 2026-08 · as of 2026-08-20 · month precision · first-page-only-unvalidated. This is not a validated engagement frequency.
Publication candidates and qualification
- Unqualified publication candidate: Catastrophe bonds and risk transfer July 20, 2026
Research candidate only; it is not promoted to an official enforcement or regulatory-update route.
Route type: news_or_notice · Source scope: authority-owned · Qualification: manual-review-required · Provisional scan signal: low-frequency-first-page-signal · Observed months: 1 · Latest observed month: 2026-07
- Unqualified publication candidate: Catastrophe bonds and risk transfer July 20, 2026
Ontario Securities Commission — Level 3: Enforcement visible · Official site reachable
Mandates: Securities · Access status: Official site reachable · Research/publication snapshot checked: 2026-08-20
Provisional first-page scan signal
Signal: periodic · Observed month count: 5 · Latest observed month: 2026-06.
Provisional automated first-page date scan on an authority-owned qualified route. It is not a validated publication frequency or effectiveness measure.
Scan contract and precision
automated-first-page-date-scan · 2024-01 to 2026-08 · as of 2026-08-20 · month precision · first-page-only-unvalidated. This is not a validated engagement frequency.
Publication candidates and qualification
- Unqualified publication candidate: Opportunity to be heard and Director’s decisions
Research candidate only; it is not promoted to an official enforcement or regulatory-update route.
Route type: not classified · Source scope: not classified · Qualification: not classified · Provisional scan signal: not-observable · Observed months: 0 · Latest observed month: unknown
- Unqualified publication candidate: Issuer-related instruments, policies and notices
Research candidate only; it is not promoted to an official enforcement or regulatory-update route.
Route type: not classified · Source scope: not classified · Qualification: not classified · Provisional scan signal: not-observable · Observed months: 0 · Latest observed month: unknown
- Unqualified publication candidate: Orders, rulings and decisions
Research candidate only; it is not promoted to an official enforcement or regulatory-update route.
Route type: not classified · Source scope: not classified · Qualification: not classified · Provisional scan signal: not-observable · Observed months: 0 · Latest observed month: unknown
- Unqualified publication candidate: Investor Advisory Panel notices and information
Research candidate only; it is not promoted to an official enforcement or regulatory-update route.
Route type: not classified · Source scope: not classified · Qualification: not classified · Provisional scan signal: not-observable · Observed months: 0 · Latest observed month: unknown
- Official authority-owned enforcement route: Enforcement
Authority-owned and approved for the human-reviewed route contract.
Route type: enforcement_archive · Source scope: authority-owned · Qualification: approved-for-human-contract · Provisional scan signal: periodic-first-page-signal · Observed months: 5 · Latest observed month: 2026-06
- Unqualified publication candidate: Court proceedings
Research candidate only; it is not promoted to an official enforcement or regulatory-update route.
Route type: not classified · Source scope: not classified · Qualification: not classified · Provisional scan signal: not-observable · Observed months: 0 · Latest observed month: unknown
- Unqualified publication candidate: Sanctions
Research candidate only; it is not promoted to an official enforcement or regulatory-update route.
Route type: not classified · Source scope: not classified · Qualification: not classified · Provisional scan signal: not-observable · Observed months: 0 · Latest observed month: unknown
- Unqualified publication candidate: Allocation and use of funds from sanctions and settlements
Research candidate only; it is not promoted to an official enforcement or regulatory-update route.
Route type: not classified · Source scope: not classified · Qualification: not classified · Provisional scan signal: not-observable · Observed months: 0 · Latest observed month: unknown
- Unqualified publication candidate: Individuals or companies with unpaid OSC sanctions
Research candidate only; it is not promoted to an official enforcement or regulatory-update route.
Route type: not classified · Source scope: not classified · Qualification: not classified · Provisional scan signal: not-observable · Observed months: 0 · Latest observed month: unknown
- Unqualified publication candidate: Returning funds to harmed investors
Research candidate only; it is not promoted to an official enforcement or regulatory-update route.
Route type: not classified · Source scope: not classified · Qualification: not classified · Provisional scan signal: not-observable · Observed months: 0 · Latest observed month: unknown
- Unqualified publication candidate: Cease trade and freeze orders
Research candidate only; it is not promoted to an official enforcement or regulatory-update route.
Route type: not classified · Source scope: not classified · Qualification: not classified · Provisional scan signal: not-observable · Observed months: 0 · Latest observed month: unknown
- Unqualified publication candidate: Mediation program
Research candidate only; it is not promoted to an official enforcement or regulatory-update route.
Route type: not classified · Source scope: not classified · Qualification: not classified · Provisional scan signal: not-observable · Observed months: 0 · Latest observed month: unknown
- Unqualified publication candidate: OSC Whistleblower Program
Research candidate only; it is not promoted to an official enforcement or regulatory-update route.
Route type: not classified · Source scope: not classified · Qualification: not classified · Provisional scan signal: not-observable · Observed months: 0 · Latest observed month: unknown
- Unqualified publication candidate: Award eligibility and process
Research candidate only; it is not promoted to an official enforcement or regulatory-update route.
Route type: not classified · Source scope: not classified · Qualification: not classified · Provisional scan signal: not-observable · Observed months: 0 · Latest observed month: unknown
- Unqualified publication candidate: Whistleblower protections
Research candidate only; it is not promoted to an official enforcement or regulatory-update route.
Route type: not classified · Source scope: not classified · Qualification: not classified · Provisional scan signal: not-observable · Observed months: 0 · Latest observed month: unknown
- Unqualified publication candidate: Submit a whistleblower report
Research candidate only; it is not promoted to an official enforcement or regulatory-update route.
Route type: not classified · Source scope: not classified · Qualification: not classified · Provisional scan signal: not-observable · Observed months: 0 · Latest observed month: unknown
- Unqualified publication candidate: Update on the OSC Whistleblower Program 2016 to 2022
Research candidate only; it is not promoted to an official enforcement or regulatory-update route.
Route type: not classified · Source scope: not classified · Qualification: not classified · Provisional scan signal: not-observable · Observed months: 0 · Latest observed month: unknown
- Unqualified publication candidate: Investigation resources
Research candidate only; it is not promoted to an official enforcement or regulatory-update route.
Route type: not classified · Source scope: not classified · Qualification: not classified · Provisional scan signal: not-observable · Observed months: 0 · Latest observed month: unknown
- Unqualified publication candidate: Automatically reciprocated orders and settlement agreements
Research candidate only; it is not promoted to an official enforcement or regulatory-update route.
Route type: not classified · Source scope: not classified · Qualification: not classified · Provisional scan signal: not-observable · Observed months: 0 · Latest observed month: unknown
- Unqualified publication candidate: Notices
Research candidate only; it is not promoted to an official enforcement or regulatory-update route.
Route type: not classified · Source scope: not classified · Qualification: not classified · Provisional scan signal: not-observable · Observed months: 0 · Latest observed month: unknown
- Unqualified publication candidate: Opportunity to be heard and Director’s decisions
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Sector exposure
- Banking & payments (Low): No FATF overlay and governance pillar within normal range
- Trade & export controls (Low): No direct sanctions or FATF call-for-action overlay identified
- Crypto & virtual assets (Low): No FATF overlay and effectiveness pillar within normal range
- Real estate & luxury assets (High): BO subscore 7.9/10; CPI context 75/100
- State-linked & procurement (Low): Current risk pillars show no elevated procurement signal
Derived from sanctions tier, FATF listing, World Bank WGI governance and CPI; no per-sector dataset is asserted.
Canada: analysis
Canada's governance is among the strongest in the model, grounded in uniformly low risk across all four domains, with rule of law and institutions (weighted 40%) and corruption (weighted 35%) the strongest readings. No FATF listing or sanctions apply. The OSC's 483 actions (2003 to 2025) and CIRO's 279 actions (2019 to 2026) together confirm a sophisticated and proactive enforcement environment. The CPI reading independently corroborates Canada's status as a well-governed, low-corruption jurisdiction.
Outlook
Canada's low-risk standing is well-founded and unlikely to change materially in the near term given the strength of its institutions, legal framework and enforcement capacity. Firms can apply standard due-diligence procedures to Canadian counterparties. Areas to watch include evolving AML requirements around real estate and virtual assets, where Canadian authorities have been active in developing regulation.
Key watchpoints
- Regulatory developments in AML obligations covering real estate, virtual assets and correspondent banking, where Canada has pursued active reform.
- OSC and CIRO enforcement trends as indicators of market integrity and supervisory effectiveness.
- Any changes to Canada's Proceeds of Crime (Money Laundering) and Terrorist Financing Act framework.
- FINTRAC supervisory findings and any material updates to Canada's national risk assessment.
Assessment currency
- FATF status: Not listed (as of 19 Jun 2026)
- Sanctions exposure: None identified (as of Jul 2026)
- Governance (WGI): Latest dataset incorporated (as of 2024)
- Corruption (CPI): 75/100 (as of 2025)
- RegActions assessment: Reviewed (as of 19 Jun 2026)
Public evidence layer
FATF action: none. No FATF call-for-action or increased-monitoring status was identified at the latest plenary. This does not establish low risk.
Contextual signals (not scored)
- FATF network membership: Direct FATF member (present, as of 2026-07)
- EU non-cooperative tax jurisdictions: Not listed in Annex I (absent, as of 2026-02-17)
- Egmont Group FIU: FINTRAC (present, as of 2026-07-17)
- Beneficial-ownership register: Public (live since 2024) (present, as of 2026-08-23)
- Transparency International CPI: 75/100, rank 16 (present, as of 2025)
Evidence freshness
- FATF monitored-jurisdiction status: current; data 2026-06-19
- FATF mutual evaluation and follow-up ratings: current; data 2026-08-24; follow-up 2021-09; base assessment 2016-09
- World Bank governance indicators: current; data 2024
- UN, UK, EU and US sanctions regimes: current; data 2026-08-30
Contextual signals are public evidence only and do not change the current country-risk score.
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Contextual risk evidence (not scored)
These eight evidence families provide context only. They do not change the v3.1 headline score. Unavailable means no reviewed, country-comparable evidence is currently ingested; it does not mean the risk is absent.
- Organised crime: Not available. No reviewed country-level organised-crime dataset is currently checked in; no risk value is inferred. Candidate sources are research leads only; they have not been ingested as evidence.
- Fraud and cybercrime: Not available. No reviewed country-level fraud or cybercrime dataset is currently checked in; no risk value is inferred. Candidate sources are research leads only; they have not been ingested as evidence.
- Terrorism and proliferation financing: Not available. No reviewed country-comparable terrorism/proliferation threat dataset is currently checked in; FATF listing status remains a separate overlay. Candidate sources are research leads only; they have not been ingested as evidence.
- Trafficking: Not available. No reviewed country-level trafficking dataset is currently checked in; no risk value is inferred. Candidate sources are research leads only; they have not been ingested as evidence.
- Financial secrecy and offshore exposure: Not available. No reviewed, licence-clean financial-secrecy index is currently checked in; jurisdiction type alone is not used as a proxy. Candidate sources are research leads only; they have not been ingested as evidence.
- Tax cooperation: Not listed in EU Annex I. Annex I is a political/legal tax-cooperation list, not a general AML, corruption, or country-risk score. Source
- Political stability and conflict: 76/100 WGI percentile. WGI is an institutional perception indicator, not a conflict event feed or a prediction of future violence. Source
- Beneficial ownership: Register accessible for due diligence. The Open Ownership map is a live-register snapshot and absence means no register was identified in that snapshot, not that no register exists. Source
Regional peer scores
- Venezuela: 8.3/10 (Very high)
- Haiti: 8.1/10 (Very high)
- Suriname: 7.1/10 (Very high)
- Nicaragua: 6.2/10 (High)
- Saint Lucia: 5.9/10 (High)
- Grenada: 5.8/10 (High)
FAQ
Is Canada on the FATF grey list?
No. Canada is not on the FATF grey or black list as of the 19 Jun 2026 plenary. FATF listing is one AML indicator; absence from the list does not by itself make Canada low risk. The next FATF plenary review is scheduled for Oct 2026.
Is Canada subject to sanctions?
No country-level programme was identified. In the approved RegActions snapshot, no comprehensive or targeted country-wide sanctions programme was found for Canada, but individual listed persons may still exist, so firms should continue to screen counterparties against the applicable lists.
What is Canada's country risk rating?
RegActions rates Canada at 3.7/10 (Moderate risk), where a higher score means higher country risk. The v3 score combines AML/CFT effectiveness, technical compliance, and governance and institutions. FATF listing and sanctions are shown as overlays and do not add points. Transparency International's 2025 Corruption Perceptions Index scores Canada 75/100 (rank #16 of 182) as context only.
What due diligence applies to Canada?
Standard due diligence for most relationships, with enhanced checks where defined risk triggers are present. This is decision-support based on Canada's FATF status, governance and sanctions signals, and is not a substitute for a firm's own risk assessment.
How much enforcement activity is tracked for Canada?
RegActions has live enforcement coverage from 2 regulators in Canada. The current action total is loaded from the source-linked evidence view rather than this country-risk snapshot. Enforcement volume measures regulator activity, not country risk, so it is shown as evidence but never fed into the RegActions Country Risk Score.
Source: FATF black & grey lists · World Bank WGI (CC BY 4.0 — World Bank WGI) · TI CPI (CC BY-ND 4.0 — Transparency International, display only)