FINTRAC posts record financial intelligence output and compliance penalties in Canada

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FINTRAC record intelligence, penalties

Highlights

FINTRAC produces 7,214 disclosure packages in 2025-26, sharing 1.68 million financial transactions with law enforcement and supporting 348 major investigations.
FINTRAC's enforcement reaches a record with 35 violation notices in 2025-26, total penalties exceeding $247 million, and a single $176 million penalty imposed on Xeltox Enterprises Ltd.
FINTRAC revokes 82 money services business registrations—up from 12—and RCMP seizes over $56 million in cryptocurrency in 2025 for registration violations.

Record disclosures and investigative support

As reported by the Financial Transactions and Reports Analysis Centre, FINTRAC produces 7,214 disclosure packages in 2025-26, including 3,007 unique disclosures and 1.68 million financial transactions shared with law enforcement. The agency says this output supports investigations into extortion, illegal fentanyl, fraud, auto theft and broader threats to Canada's security.

A recent FATF evaluation finds FINTRAC's financial intelligence is substantially effective in supporting investigations, with law enforcement using the Centre's intelligence in 94% of their money laundering and criminal possession investigations. FINTRAC says 38% of disclosures are provided proactively to law enforcement and national security partners, helping identify previously unknown individuals, criminal networks and threats.

The agency says it supports 348 major project-level investigations, along with hundreds of other individual investigations across Canada and internationally. Among highlighted areas, extortion accounts for 122 disclosures covering $1.6 billion in financial flows and 75,204 transactions, while illegal fentanyl cases account for 268 disclosures, 1,051 identified subjects and support for more than 40 project-level investigations.

FINTRAC also points to specific operations in late 2025. In September 2025, its intelligence is recognized by Alberta Law Enforcement Response Teams in Project Cerberus, a cross-border drug trafficking investigation that leads to charges against five individuals and seizures including 157 kilograms of cocaine, nearly $1 million in cash, 15 firearms and seven vehicles. In December 2025, FINTRAC contributes to Maple Disruption 2025, a cross-sector initiative involving more than 25 partners that results in 3,021 disruptive actions against fraud and cybercrime enablers.

Compliance crackdown expands across regulated sectors

FINTRAC says its assessment and monitoring activities in 2025-26 align with national risk priorities including extortion, illegal fentanyl and fraud. The agency carries out 4,874 assessment and monitoring activities, including self-attestations, risk questionnaires, examinations, information demands, compliance monitoring and remediation work.

Its risk assessment activity includes 812 self-attestations processed, 984 risk questionnaires completed and 294 voluntary self-declarations of non-compliance received. FINTRAC also conducts 625 targeted examinations, including 433 involving money services businesses, 129 involving financial entities and 26 involving casinos, alongside 89 full-scope examinations focused mainly on precious metals and stones, real estate and mortgage brokers.

More than 55% of all assessment activities focus on money services businesses, reflecting what FINTRAC describes as the sector's very high vulnerability to money laundering and terrorist financing. The agency revokes 82 money services business registrations, up from 12 a year earlier, and says the RCMP Money Laundering Investigative Team seizes more than $56 million in cryptocurrency in September 2025 in a case involving a business that failed to register with FINTRAC.

Enforcement activity also reaches a record level. FINTRAC issues 35 notices of violation in 2025-26, a 52% increase from the previous year, with total penalties exceeding $247 million; financial entities, money services businesses, casinos and real estate are the most penalized sectors. In October 2025, the agency imposes a $176 million penalty on Xeltox Enterprises Ltd., operating as Cryptomus, citing failures including the non-submission of suspicious transaction reports linked to suspected child sexual abuse material trafficking, fraud, ransomware payments and sanctions evasion.

FINTRAC says it discloses 31 cases of potentially criminal non-compliance to law enforcement, including 28 involving money services businesses. The agency adds that it continues to strengthen its supervision program through a new supervisory framework, enhanced risk-based oversight, updated analytical tools and broader outreach to improve reporting quality and address emerging risks in Canada's financial system.

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