FINTRAC publishes its 2024–25 Annual Report, Safe Canadians, Secure Economy

News release

October 30, 2025 — Ottawa

FINTRAC today published its 2024–25 Annual Report, Safe Canadians, Secure Economy, which describes the critical impact the Centre is having in helping to protect the safety of Canadians, particularly Canada's most vulnerable citizens and communities, and the integrity of Canada's financial system.

FINTRAC played an important role in the Government of Canada's enhanced commitment to combatting illegal fentanyl/illicit opioids. Between November 2024 and the end of March 2025, the Centre generated more than 100 disclosures of actionable financial intelligence in support of law enforcement investigations related to illicit opioids. In early 2025, FINTRAC was recognized by the Canadian Integrated Response to Organized Crime Committee for its contribution to a national sprint that led to the seizure of 46 kg of fentanyl, nearly 16,000 pills of fentanyl and other synthetic opioids, a large quantity of other drugs, 122 firearms and more than $800,000 in cash.

Throughout 2024–25, FINTRAC's financial intelligence also assisted in investigations linked to money laundering, including in relation to human trafficking, fraud and auto theft, terrorist financing and threats to the security of Canada. With the information that the Centre received from Canadian businesses, FINTRAC generated more than 6,200 financial intelligence disclosure packages, based on more than 2,700 unique disclosures, in support of law enforcement and national security investigations across Canada and around the world. This is by far the largest number of disclosures that FINTRAC has generated in a single year.

FINTRAC's actionable financial intelligence contributed to more than 200 complex, resource intensive (project level) investigations and many hundreds of other individual investigations at the municipal, provincial and federal levels across the country, and internationally. Ninety-six percent of the feedback that FINTRAC received from Canada's law enforcement and national security agencies indicated that its financial intelligence was actionable, including providing new leads, triggering new avenues of investigation or corroborating existing investigative information.

FINTRAC also helped safeguard Canada's financial system and economy last year by ensuring that businesses comply with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (the Act) and associated Regulations. The Centre undertook over 1,300 assessment activities last year, including conducting Supervisory Risk and Assessment Questionnaires, engaging entities that submitted Voluntary Self-declarations of Non-compliance, undertaking monitoring meetings, and conducting both targeted and full scope compliance examinations. This is an increase of more than 40% over the previous year.

When FINTRAC found non-compliance with the Act and Regulations, the Centre took firm action. Last year, FINTRAC issued 23 notices of violation, the largest number in its history, for a total amount of more than $25 million. The Centre also disclosed 32 cases of non-compliance directly to law enforcement for potential criminal investigation. This is more than double the number of cases disclosed last year and by far the largest number of cases disclosed in a single year.

Quote

"Whether it's generating actionable financial intelligence in support of money laundering, terrorist financing and sanctions evasion investigations or ensuring that businesses are fulfilling their responsibilities under the Act, FINTRAC is playing a critical role in helping to protect Canada and Canadians. By working with businesses, following the money and leveraging the power of financial intelligence, we are helping to target, disrupt and dismantle the organized criminal networks that profit from drug trafficking, fraud, auto theft, human trafficking and other illicit activities."

Quick facts

• As Canada's financial intelligence unit and anti-money laundering and anti-terrorist financing supervisor, FINTRAC ensures the compliance of more than 38,000 businesses subject to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and generates actionable financial intelligence for Canada's law enforcement, national security agencies and international partners.
• The top three predicate offences related to FINTRAC's financial intelligence disclosures in 2024–25 were fraud (25%), drugs (20%) and crimes against persons, including human trafficking (16%).
• The Centre's unique financial intelligence disclosures contained 511,480 financial transaction reports, which included 1,308,413 financial transactions.
• FINTRAC's financial intelligence disclosures are regularly provided to multiple agencies simultaneously, helping Canada's law enforcement and national security agencies connect criminal activities and operations across a number of domestic and international jurisdictions by following the money. FINTRAC's unique disclosures contained a total of 8,618 subjects.
• FINTRAC contributed to the National Action Plan on Combatting Auto Theft, generating 73 disclosures of actionable financial intelligence in support of the auto theft investigations of municipal, provincial and federal law enforcement agencies.
• FINTRAC received 2,268 voluntary information records related to money laundering and terrorist activity financing from Canada's law enforcement and national security agencies.
• The Centre provided 272 unique disclosures and 345 disclosure packages to foreign financial intelligence units in relation to money laundering and terrorist financing. Ninety-three percent of the feedback received from these foreign financial intelligence units indicated that they were satisfied with FINTRAC's financial intelligence disclosures.
• FINTRAC worked with Canada's Five Eyes partners and European allies to share financial intelligence through the Russia-Related Sanctions and Illicit Finance Financial Intelligence Units Working Group.
• FINTRAC worked closely with FinCEN and Mexico's Unidad de Inteligencia Financiera within the North American Drug Dialogue's Illicit Finance Working Group.
• FINTRAC worked with businesses to help them understand their obligations, with an emphasis on sectors that are new to Canada's Anti-Money Laundering and Anti-Terrorist Financing Regime, including providing new and updated guidance, hosting webinars on sanctions evasion and the financing associated with illegal fentanyl, undertaking a targeted outreach and engagement, and responding to more than 17,000 enquiries from businesses, associations and stakeholders.
• FINTRAC issued 23 notices of violation, the largest number in its history, for a total amount of more than $25 million.
• FINTRAC published five strategic intelligence products to inform businesses, partners and the public on the nature and scope of money laundering and terrorist activity financing: Operational Alert on Laundering the Proceeds of Illicit Synthetic Opioids; Special Bulletin on Financial Activity Associated with Suspected Sanctions Evasion; Special Bulletin on the Use of the Legal Profession in Money Laundering and Sanctions Evasion; Operational Alert on the Laundering of the Proceeds of Tax Evasion in Real Estate; and Sectoral and Geographic Advisory on the Role of Virtual Currency ATMs in Laundering the Proceeds of Crime.

Related product

• 2024–25 Annual Report, Safe Canadians, Secure Economy

Contacts

Media Relations
Financial Transactions and Reports Analysis Centre of Canada
613-716-9983
media.medias@fintrac-canafe.gc.ca

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