Financial Transactions and Reports Analysis Centre of Canada 2025–26 Departmental plan

On this page

• From the Director and Chief Executive Officer
• Plans to deliver on core responsibilities and internal services
  • Core responsibility 1: Compliance with Anti-Money Laundering and Anti-Terrorism Financing Legislation and Regulations
  • Core responsibility 2: Production and dissemination of financial intelligence
  • Internal services
• Planned spending and human resources
  • Spending
  • Funding
  • Future-oriented condensed statement of operations
  • Human resources
• Corporate information
• Supplementary information tables
• Federal tax expenditures
• Definitions

From the Director and Chief Executive Officer

I am pleased to present to Parliament and Canadians the 2025–26 Departmental Plan for the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). This report sets out our priorities and describes what we plan to do to achieve real and impactful results for our partners and for Canadians in the upcoming year.

FINTRAC is Canada's Financial Intelligence Unit and Anti-Money Laundering and Anti-Terrorist Financing (AML/ATF) Supervisor. In performing these complementary functions, we are at the heart of Canada’s multi-agency AML/ATF Regime and we play a key role in helping to protect the safety and security of Canadians.

FINTRAC's operations are shaped by a complex and challenging operating environment, with new and evolving technologies and financial products, rapidly shifting global financial systems, and geopolitical events constantly shaping our work. Our role in detecting, preventing and deterring money laundering, the financing of terrorist activities and sanctions evasion is more critical than ever as criminals and terrorists are using increasingly sophisticated methods to exploit vulnerabilities and take advantage of any opportunity to enrich themselves and advance their illicit enterprises.

Against the backdrop of such change, it is critical that we modernize FINTRAC’s capabilities with a focus on secure and resilient systems and tools that strengthen our core functions. In the year ahead, we will continue to prioritize our Centre-wide modernization efforts, with a particular emphasis on how we conduct our business with our stakeholders and the systems and tools that we use on a daily basis. With our innovative Digital Strategy, we are advancing digital automation, analytics and the use of artificial intelligence in many aspects of our work. We have created a new digital acceleration and modernization team that will allow us to experiment with and quickly adopt the latest technologies.

The ultimate goal of our modernization vision is to better align with businesses and federal partners to combat money laundering, terrorist activity financing and sanctions evasion in real-time. This means harnessing modern skills, tools and technologies to be able to identify, assess and communicate risk in real-time; to support and respond to businesses in real-time; to receive reporting in real-time; to conduct our analysis in real-time; and to generate financial intelligence for law enforcement and national security agencies in real-time or as close to it as we can get.

The ability to work in real time will be a game-changer for FINTRAC, particularly as it relates to reporting by businesses and our intelligence analysis. For example, in our work in combatting human trafficking for sexual exploitation, it will allow us to proactively identify and assist law enforcement in disrupting networks much quicker. This will mean rescuing victims sooner, saving them from prolonged abuse. And it will help law enforcement target, arrest and charge the traffickers sooner, preventing the abuse of new victims.

In 2025–26, we will also help safeguard Canada’s financial system and economy by ensuring that businesses comply with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and associated Regulations. With our enhanced risk-based approach to supervision, we are tailoring our methods to better meet the needs of businesses in the form of services, support and tools that make it easier for them to identify and mitigate money laundering, the financing of terrorism and sanctions evasion. We are committed to an adaptive and agile approach to working with businesses, with a particular focus on newly regulated entities to understand and comply with their obligations. As we strive to be a world-leading regulator, our goal is to make it simpler for businesses to fulfill their legal obligations by providing reliable support, refined processes, service and tools, among other efficiencies.

At the same time, we have made it clear that we will be firm in ensuring that businesses do their part in helping to protect Canada and Canadians. Combatting money laundering, terrorist activity financing and sanctions evasion is a moral and social imperative. Unfortunately, some businesses continue to fall short in meeting their obligations, including in relation to submitting the reporting to FINTRAC that is crucial to our ability to generate valuable financial intelligence for Canada’s law enforcement and national security agencies. Building on our historic efforts last year, we will continue to ramp up our enforcement actions in 2025–26, imposing larger administrative monetary penalties when warranted and providing Non-Compliance Disclosures to law enforcement for potential criminal investigation.

Over the coming year, as part of our core regulatory and financial intelligence mandates, we will also work to broaden and enhance our strategic engagement with our many stakeholders – regulatory partners, Canada’s law enforcement and national security agencies, thousands of businesses across the country and our international allies – to strengthen our collective ability to understand and address emerging threats and combat money laundering, terrorist activity financing and sanctions evasion at home and abroad. We are also committed to working with our North American partners to intensify our focus on our key public-private partnerships related to tackling the laundering of proceeds associated with the trafficking of illicit fentanyl, human trafficking, online child sexual exploitation and the illegal wildlife trade.

Strengthening and expanding our partnerships is also critical to FINTRAC's modernization. More than ever, it takes a network – strong, equipped and committed – to defeat modern criminal and terrorist networks. Our successful public-private partnerships are one important way that FINTRAC and our strategic partners are having a real and meaningful impact in protecting some of Canada’s most vulnerable citizens.

Lastly, as we begin a new fiscal year, I would like to thank our talented and dedicated employees for their hard work and critical contributions. Our achievements are testament to the commitment and dedication of FINTRAC staff and we continue to invest our energy and resources into ensuring that we remain an inclusive and positive workplace, with a culture that embraces the opportunities of the future.

______________________________
Sarah Paquet
Director and Chief Executive Officer

Plans to deliver on core responsibilities and internal services

Core responsibilities and internal services

• Core responsibility 1: Compliance with Anti-Money Laundering and Anti-Terrorism Financing Legislation and Regulations
• Core responsibility 2: Production and dissemination of financial intelligence
• Internal services

Core responsibility 1: Compliance with Anti-Money Laundering and Anti-Terrorism Financing Legislation and Regulations

In this section

• Description
• Quality of life impacts
• Indicators, results and targets
• Plans to achieve results
• Planned resources to achieve results
• Related government priorities
• Program inventory

Description

FINTRAC is responsible for ensuring compliance with Part 1 and Part 1.1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and its associated Regulations. This legal framework establishes obligations for reporting entities to develop and implement a compliance program in order to identify clients, monitor business relationships, keep records and report certain types of financial transactions. FINTRAC undertakes enabling and enforcement actions to ensure that the reporting entities operating within Canada's financial system fulfill their PCMLTFA obligations. These obligations provide important measures for countering patterns and behaviours observed in criminals and terrorists in order to deter them from operating within the legitimate channels of Canada's economy. FINTRAC also maintains a registry of money services businesses in Canada and foreign money services businesses that direct and provide services to persons and entities in Canada.

Quality of life impacts

Through all of the activities mentioned in the description, this core responsibility contributes to the Prosperity, Society, and Good governance domains of the Quality of Life Framework for Canada. More specifically, it contributes to the Future outlook, Financial well-being, Trust in others, Confidence in institutions and Crime Severity Index indicators.

Indicators, results and targets

This section presents details on the department’s indicators, the actual results from the three most recently reported fiscal years, the targets and target dates approved in 2025–26 for Compliance with Anti-Money Laundering and Anti-Terrorism Financing Legislation and Regulations. Details are presented by departmental result.

Table 1: Targets and results for Compliance with Anti-Money Laundering and Anti-Terrorism Financing Legislation and Regulations

Table 1 provides a summary of the target and actual results for each indicator associated with the results under Compliance with Anti-Money Laundering and Anti-Terrorism Financing Legislation and Regulations.

Additional information on the detailed results and performance information for the FINTRAC’s program inventory is available on GC InfoBase.

Plans to achieve results

The following section describes the planned results for Compliance with Anti-Money Laundering and Anti-Terrorism Financing Legislation and Regulations in 2025–26.

FINTRAC's risk-based approach is aimed at influencing compliance behaviour whereby persons and entities subject to the PCMLTFA fulfill their obligations. Central to this are a host of activities aimed at ensuring that reporting entities understand and comply with their 'know-your-client' and record keeping requirements, and that they submit high quality and timely reports to FINTRAC. Notably, some businesses fall short in meeting their obligations, including their obligations in submitting reports to FINTRAC that is crucial to our ability to generate valuable financial intelligence for Canada's law enforcement and national security agencies.

Moving forward, FINTRAC will continue to strengthen its risk-based Supervision approach and efforts in reviewing assessment methodologies to proactively focus on areas where businesses are most vulnerable to non-compliance risks, and to take swift enforcement action when serious deficiencies under the PCMLTFA are found. Correspondingly, FINTRAC will also work with the Department of Finance who is currently updating the NIRA methodology which will become the National Risk Assessment (NRA) as of 2025. One of the key differences of the new methodology is to calculate residual risk as opposed to inherent risk, which will also inform FINTRAC's way forward risk practices and methodologies.

To effectively evolve the compliance framework towards a supervisory one requires the right suite of policies and procedures, supported by the right systems and training mechanisms, together with a capacity to change within a complex and dynamic operating environment.

In 2025–26, FINTRAC will undertake the following major activities:

• Ensure businesses do their part in helping to protect Canada and Canadians by ramping up our enforcement actions in 2025–26, imposing larger administrative monetary penalties when warranted and providing Non-Compliance Disclosures to law enforcement for potential criminal investigation.
• Strengthen a comprehensive Supervisory Framework and supporting systems, which will enable us to execute effective supervisory actions and timely interventions, underpinned by a sophisticated, risk-based approach; cultivate AML supervisory expertise within FINTRAC by providing targeted supervisory training and opportunities for professional development; and, streamline and standardize supervisory practices by refining methodologies, establishing clear standards, and updating processes and guidelines.
• Leverage the latest findings from Canada's National Inherent Risk Assessment (NIRA) as the cornerstone of our enhanced risk model, ensuring supervision efforts are laser-focused on the most critical vulnerabilities, guiding our assessment and enforcement activities. Additionally, NIRA's insights will be used to inform Supervision outreach initiatives, delivering targeted awareness campaigns.
• Implement FINTRAC's newly introduced regulatory amendments, including those to bring new reporting entities into the regime (such as white-label automated teller machines and title insurers), ensuring that our regulatory framework remains robust and responsive to evolving risks.
• Update and streamline guidance in response to all legislative and regulatory amendments coming into force. FINTRAC will support new regulated entities in understanding their obligations and will build new relationships with regulators and associations by using different outreach vehicles.
• Exchange best practices, collaborate and engage with domestic and international partners, including the Department of Finance Canada, foreign financial intelligence units, and organizations like Egmont Group, the Financial Action Task Force (FATF), the Asia/Pacific Group (APG), and the Caribbean Financial Action Task Force (CFATF) to enhance global AML/CTF knowledge and address financial crime threats.
• As a key stakeholder, prepare for the FATF Mutual Evaluation in June 2026, which assesses Canada's compliance with international AML and CTF standards. The FATF, an intergovernmental body formed by the G7, sets global policies to combat money laundering and terrorist financing. Canada's adherence to these standards is crucial for maintaining the integrity of its financial system and international standing. FINTRAC's role is key in providing data and evidence of effective national AML/CTF strategies.
• Contribute and respond to review processes, transparency and oversight bodies, and support innovative projects through the AML/ATF Regime Advisory Committee.

Planned resources to achieve results

Table 2: Planned resources to achieve results for Compliance with Anti-Money Laundering and Anti-Terrorism Financing Legislation and Regulations

Table 2 provides a summary of the planned spending and full-time equivalents required to achieve results.

Complete financial and human resources information for FINTRAC’s program inventory is available on GC InfoBase.

Related government priorities

Sustainable development

More information on FINTRAC’s contributions to Canada’s Federal Implementation Plan on the 2030 Agenda and the Federal Sustainable Development Strategy can be found in our Departmental Sustainable Development Strategy.

Innovation

In 2025–26, FINTRAC will advance its risk assessment capabilities to guide its compliance activities. A key initiative will be to evolve the risk questionnaire through an automated platform, for more timely collection of risk insights. The Centre will leverage key technology to automate processes and advance the boundaries of innovation for more robust supervision of reporting entities. FINTRAC will leverage a targeted approach to mine available data and insights to proactively assess relevant risk. Concurrently, FINTRAC will focus on the development of a comprehensive risk framework to guide risk-based decisions, as well as providing reporting entities with insightful and high-value feedback. The ultimate goal is to ensure that FINTRAC remains at the forefront of effective risk identification to guide compliance activities, thereby safeguarding the integrity of Canada’s financial system.

Program inventory

Compliance with Anti-Money Laundering and Anti-Terrorism Financing Legislation and Regulations is supported by the following programs:

• Compliance program
• Strategic policy and reviews

Additional information related to the program inventory for Compliance with Anti-Money Laundering and Anti-Terrorism Financing Legislation and Regulations is available on the Results page on GC InfoBase.

Core responsibility 2: Production and dissemination of financial intelligence

In this section

• Description
• Quality of life impacts
• Indicators, results and targets
• Plans to achieve results
• Planned resources to achieve results
• Related government priorities
• Program inventory

Description

FINTRAC is mandated by the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) to produce actionable financial intelligence that assists Canada's police, law enforcement, national security and other international and domestic partner agencies in combatting money laundering, terrorism financing and threats to the security of Canada, while protecting the personal information entrusted to FINTRAC. The Centre also produces strategic financial intelligence for federal policy and decision-makers, the security and intelligence community, reporting entities across the country, international partners and other stakeholders. FINTRAC’s strategic intelligence provides a wide analytical perspective on the nature, scope and threat posed by money laundering and terrorism financing.

Quality of life impacts

Through all of the activities mentioned in the description, this core responsibility contributes to the Prosperity and Good governance domains of the Quality of Life Framework for Canada. More specifically, it contributes to the Financial well-being, Victimization rate and Crime Severity Index indicators.

Indicators, results and targets

This section presents details on the department’s indicators, the actual results from the three most recently reported fiscal years, the targets and target dates approved in 2025–26 for Production and dissemination of financial intelligence. Details are presented by departmental result.

Table 3: Targets and results for Production and dissemination of financial intelligence

Table 3 provides a summary of the target and actual results for each indicator associated with the results under Production and dissemination of financial intelligence.

Additional information on the detailed results and performance information for the FINTRAC’s program inventory is available on GC InfoBase.

Plans to achieve results

The following section describes the planned results for Production and dissemination of financial intelligence in 2025–26.

As part of its core mandate, FINTRAC provides actionable financial intelligence to Canada's law enforcement and national security agencies to help them combat money laundering, terrorist activity financing, sanctions evasion and threats to the security of Canada. The Centre's intelligence plays a key role in helping to protect the safety of Canadians, particularly Canada's most vulnerable citizens and communities.

Given the complexity of connecting the flow of illicit funds often involving organized criminal groups, FINTRAC's financial intelligence often contains thousands of financial transaction reports in each disclosure. At the same time, the value of transactions in each disclosure may be in the millions or even hundreds of millions of dollars.

A financial intelligence disclosure may show links between individuals and businesses that have not been identified in an investigation, and may help investigators refine the scope of their cases or shift their sights to different targets. A disclosure can pertain to an individual or a wider criminal network, and can also be used by law enforcement to put together affidavits to obtain search warrants and production orders. FINTRAC's financial intelligence is used in a wide variety of criminal investigations related to the funding of terrorist activities and the laundering of proceeds originating from crimes such as drug trafficking, fraud, tax evasion, corruption and human trafficking.

FINTRAC's financial intelligence can also be used to reinforce applications for the listing of terrorist entities, sanctioned persons or entities and to advance the government's knowledge of the financial dimensions of threats, including those related to organized crime and terrorism.

In addition to the Centre's financial intelligence disclosures, FINTRAC also produces valuable strategic financial intelligence to fulfill its mandate. Through research and analytical techniques, the Centre is able to identify emerging characteristics, trends and tactics used by criminals and other bad actors to launder the proceeds of crime, fund terrorist activities or finance threats to the security of Canada. The goal of FINTRAC's strategic intelligence is to inform Canada's security and intelligence community, Regime partners and policy decision-makers, businesses, Canadians, and international counterparts about the nature and extent of these illicit financial activities.

In 2025–26, FINTRAC committed to executing the following pivotal initiatives:

• Leverage insights from Canada's National Inherent Risk Assessment (NIRA) to enhance strategic and tactical intelligence production, targeting sectors identified with the highest inherent risks. This integration will significantly amplify FINTRAC's capabilities in thwarting money laundering, terrorist financing, and sanctions evasion.
• Transform the intelligence operational process to effectively incorporate sanctions evasion and manage reports concerning sanctioned property, in addition to other listed persons and entities.
• Escalate the generation and distribution of crucial financial intelligence to disrupt the production, distribution, and trafficking of synthetic opioids. This will involve deepened collaboration within the North American Drug Dialogue and the Illicit Finance Working Group, as well as an Analyst Exchange to dismantle transnational criminal organizations.
• Elevate the efficacy of our Public-Private Partnerships (PPPs) to ensure the delivery of high-quality suspicious transaction reports (STRs), over and above our 450 disclosures last fiscal year, and to generate decisive intelligence targeting money laundering linked to human trafficking, online child sexual exploitation, illegal synthetic opioids, and illegal wildlife trafficking.
• Produce strategic public-facing intelligence outputs, such as bulletins and advisories, to heighten awareness among entities and the general public about pressing AML/ATF issues and indicators.
• Generate strategic intelligence reports to keep partners abreast of evolving trends in money laundering, terrorist financing, sanctions evasion, and security threats.
• Assert leadership within the Egmont Group by disseminating best practices and expertise, thereby fortifying global AML/ATF initiatives.
• Foster a robust partnership with Canada Border Services Agency's Trade Fraud and Trade-based Money Laundering Centre of Expertise. This will involve mutual knowledge exchange and training to advance the understanding of trade-based money laundering risks, trends, and typologies, contributing to international efforts to disrupt such activities.
• Participate actively in the Counter Illicit Finance Alliance of BC to develop strategic information aimed at safeguarding British Columbia's economic integrity against illicit financial activities.
• Deploy an advanced search application to enhance analytical capabilities, deepen intelligence insights, and expedite the production of financial intelligence, in anticipation of increased data influx from police, law enforcement, and security agencies.
• Streamline and expedite the implementation of automation and analytical tools to transform our operational efficiency and intelligence accuracy.

Planned resources to achieve results

Table 4: Planned resources to achieve results for Production and dissemination of financial intelligence

Table 4 provides a summary of the planned spending and full-time equivalents required to achieve results.

Complete financial and human resources information for FINTRAC's program inventory is available on GC InfoBase.

Related government priorities

Sustainable development

More information on FINTRAC's contributions to Canada's Federal Implementation Plan on the 2030 Agenda and the Federal Sustainable Development Strategy can be found in our Departmental Sustainable Development Strategy.

Innovation

In 2025–26, as part of the Intelligence Modernization initiative, FINTRAC will shift from the 'Proof of Concept Phase' to the active deployment of new analytical solutions. This will involve the integration of cutting-edge technological tools to augment the analysis of financial data for signs of money laundering, terrorist financing, and sanctions evasion.

These enhancements will bolster the clarity of entities and their networks, enhance risk detection methods, and integrate sophisticated data analytics—including the exploration of machine learning—to refine our detection and analysis processes.

The improvements will deliver not only internal process efficiencies but also more precise, pertinent, and timely intelligence to FINTRAC's disclosure recipients, including law enforcement. This will result in the provision of more actionable intelligence, reinforcing Canada's defense against financial crimes and marking 2025–26 as a pivotal year for FINTRAC's enhanced analytical prowess and the increased value of intelligence shared with our partners.

Program inventory

Production and dissemination of financial intelligence is supported by the following programs:

• Financial intelligence program
• Strategic intelligence research and analytics

Additional information related to the program inventory for Production and dissemination of financial intelligence is available on the Results page on GC InfoBase.

Internal services

In this section

• Description
• Plans to achieve results
• Planned resources to achieve results
• Planning for contracts awarded to Indigenous businesses

Description

Internal services are the services that are provided within a department so that it can meet its corporate obligations and deliver its programs. There are 10 categories of internal services:

• management and oversight services
• communications services
• legal services
• human resources management services
• financial management services
• information management services
• information technology services
• real property management services
• materiel management services
• acquisition management services

Plans to achieve results

FINTRAC's Internal services support the Centre's core responsibilities and programs. A key priority is ensuring the protection of information under its control. All facets of FINTRAC's operations, including security screening of all employees and individuals requiring access to the Centre's information, assets and/or facilities, are subject to rigorous security measures that ensure the safeguarding of the Centre's physical premises and IT systems, including the handling, storage and retention of all personal and other sensitive information under its control. Internal services also support the development and delivery of effective and integrated services, policies, advice and guidance in the fields of finance, human resources, culture and change management, security, communication, procurement, administration, information management, and information technology. The overall objective is to ensure that FINTRAC has the proper capacity and corporate infrastructure to allow its workforce to achieve operational success.

As FINTRAC's responsibilities and operations grow in scope and complexity, its ability to deliver on its mandate remains directly tied to its adaptability, the skills and dedication of its employees, and the tools and resources available for them to do their work. As an organization committed to excellence, FINTRAC is focused on the effective management of its human, technological and financial resources, and will continue to enhance its security program, including strengthening its security screening capacity and cybersecurity, while also reinforcing the physical security of the facilities in light of the ever-changing threat landscape.

To achieve its internal services objectives, FINTRAC will undertake the following activities in 2025–26:

• Continue to enhance the overall information security and cyber resiliency of the Centre by implementing and aligning with industry standards and the Canadian Centre for Cyber Security (CCCS).
• Explore, develop and begin implementation of a comprehensive Workplace Wellness Strategy, focusing on mental health and psychological safety, and continue executing the Employment Equity, Diversity, and Inclusion (EEDI) Strategy and Official Languages (OL) Strategy.
• Enhance the Code of Conduct, Values and Ethics by strengthening the conflict of interest disclosure process, while also actively promoting values and ethics through engagement sessions and discussions across various levels of the organization.
• The protection of privacy remains a clear priority for FINTRAC and the Centre will continue to meet all of its obligations under the Privacy Act.
• Deploy the new Financial Management System (FMS) solution. The solution will integrate with FINTRAC's new Human Capital Management solution, leading to a fully integrated Enterprise Resource Planning platform, streamlined processes and efficiencies.
• Prepare for the transition to Treasury Board Secretariat's new Directive on Security Screening through updates to existing security processes and protocols, ensuring alignment with enhanced standards for a consistent and fortified security risk management approach.
• With its product management delivery model fully implemented, FINTRAC will continue to refine its processes and governance, while still ensuring streamlined and consistent product delivery that aligns with present needs and future demands.
• Further enhance the Human Capital Management (HCM) system by exploring new features and additional components, such as recruitment tools, for improved automation and streamlined HR services.
• Scale up cloud infrastructure to enable the rollout of transformative, adaptable applications and tools.

Innovation

In 2025–26, FINTRAC aims to revolutionize financial intelligence by focusing on real-time processing and operational modernization. The Centre’s dedication to refining processes, systems, and tools is anticipated to significantly increase the speed and accuracy of report reception and intelligence production. This commitment is driven by two main initiatives:

Internal Process and Digital Enhancement

• FINTRAC's modernization initiative will drive internal operations to be more efficient and streamlined. This includes simplifying workflows, incorporating automation and exploring ways where artificial intelligence can be used to free up staff for complex tasks, enhancing data analytics for proactive financial crime identification, adopting advanced digital solutions, and empowering employees with new tools and training.

Collaborative Efforts

• FINTRAC will continue to emphasize the importance of partnerships in combating sophisticated financial crimes, including engaging with various stakeholders for better knowledge sharing, initiating joint projects for collaborative innovation, and facilitating forums for insight exchange.

These strategic actions are expected to markedly advance FINTRAC's mission by improving internal efficiencies, technological expertise, and forging strong external partnerships, aligning with global financial protection efforts.

FINTRAC's modernization reflects its commitment to providing timely, high-quality feedback to regulated entities, enhancing transaction reporting, and strengthening the collective effort to mitigate risks. With new tools in development, FINTRAC is poised to stay ahead of illicit activities, offering rapid support to law enforcement with valuable financial intelligence. As it continues to evolve in the digital era, FINTRAC remains focused on safeguarding Canada's financial system and ensuring the nation's security.

Planned resources to achieve results

Table 5: Planned resources to achieve results for internal services this year

Table 5 provides a summary of the planned spending and full-time equivalents required to achieve results.

The complete financial and human resources information for FINTRAC’s program inventory is available on GC InfoBase.

Planning for contracts awarded to Indigenous businesses

FINTRAC is projecting to exceed the 5% target amount for 2024–25 and will continue to implement its plan to support the Procurement Strategy for Indigenous Businesses in 2025–26. Responding to Indigenous Services Canada in March 2023, March 2024 and forthcoming in March 2025, FINTRAC has provided a Director and CEO approved procurement plan for meeting the mandatory minimum target, including approved exceptions, for the following two fiscal years.

FINTRAC continues to examine planned procurements at the pre-planning stage to identify opportunities for Indigenous businesses to be included in the process. There is a continued focus by procurement officers on purchasing commodities using tools that leverage Indigenous capacity (e.g., professional services and IT equipment suppliers), setting aside specific opportunities when beneficial to do so, and continuing to provide stakeholders with the tools and resources needed, along with proactive communication and timely change management practices.

Table 6: Percentage of contracts planned and awarded to Indigenous businesses

Table 6 presents the current, actual results with forecasted and planned results for the total percentage of contracts the department awarded to Indigenous businesses.

Planned spending and human resources

This section provides an overview of FINTRAC’s planned spending and human resources for the next three fiscal years and compares planned spending for 2025–26 with actual spending from previous years.

In this section

• Spending
• Funding
• Future-oriented condensed statement of operations
• Human resources

Spending

This section presents an overview of the department's planned expenditures from 2022–23 to 2027–28.

Budgetary performance summary

Table 7: Three-year spending summary for core responsibilities and internal services (dollars)

Table 7 presents how much money FINTRAC spent over the past three years to carry out its core responsibilities and for internal services. Amounts for the current fiscal year are forecasted based on spending to date.

Analysis of the past three years of spending

Actual spending was $88.2M in 2022–23 and $98.6M in 2023–24, an increase of $10.4M (12%) primarily due to increased costs in personnel and spending related to funding received in Budget 2022 to strengthen Canada’s Anti-Money Laundering and Anti-Terrorist Financing (AML/ATF) Regime.

Planned spending is expected to be $112M in 2024–25, an increase of $13.4M (14%), primarily due to the anticipated receipt of new funding announced in Budget 2024 to enhance FINTRAC's cyber resiliency and ensure the implementation of additional data security safeguards.

Following the coming into force of the Financial Transactions and Reports Analysis Centre of Canada Assessment of Expenses Regulations on April 1, 2024, FINTRAC began to recover the annual cost of its Compliance function from prescribed reporting entities through the method set out in those Regulations. FINTRAC refined its program allocation methodology, starting in fiscal year 2024–25, to include the attribution of applicable direct and indirect costs that were previously captured under the internal services category to programs.

More financial information from previous years is available on the Finances section of GC Infobase.

Table 8: Planned three-year spending on core responsibilities and internal services (dollars)

Table 8 presents how much money FINTRAC plans to spend over the next three years to carry out its core responsibilities and for internal services.

Analysis of the next three years of spending

Planned spending is expected to decrease by $3.6M (-3%) from $112.0M in 2024–25 to $108.4M in 2025–26. Expenditures are anticipated to increase by $0.7M (1%) to $109.1M in 2026–27 and decrease by $4.6M (-4%) to $104.5M in 2027–28. The decrease in planned spending over these three fiscal years is mainly due to the decrease in the profile of funds in Budget 2022 to strengthen Canada's anti-money laundering and anti-terrorist financing regime, as well as the Government of Canada's refocusing spending initiatives announced in Budgets 2023.

More financial information from previous years is available on the Finances section of GC Infobase.

Table 9: Budgetary gross and net planned spending summary (dollars)

Table 9 reconciles gross planned spending with net spending for 2025–26.

Analysis of budgetary gross and net planned spending summary

Effective April 1, 2024, FINTRAC implemented a new assessment of expenses funding model following amendments to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act whereby prescribed Reporting Entities (RE) regulated under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act pay an annual assessment to cover the costs of the Supervision function of the Centre. It is anticipated that FINTRAC will be collecting revenues of $60.5M in 2025–26.

Information on the alignment of FINTRAC’s spending with Government of Canada’s spending and activities is available on GC InfoBase.

Funding

This section provides an overview of the department's voted and statutory funding for its core responsibilities and for internal services. For further information on funding authorities, consult the Government of Canada budgets and expenditures.

Graph 1: Approved funding (statutory and voted) over a six-year period

Graph 1 summarizes the department's approved voted and statutory funding from 2022–23 to 2027–28.

• Text description of graph 1

  Fiscal year	Statutory	Voted	Total
  2022–23	$7,639,968	$80,513,411	$88,153,379
  2023–24	$9,234,462	$89,388,457	$98,622,919
  2024–25	$53,837,531	$60,091,007	$113,928,538
  2025–26	$64,507,171	$43,852,409	$108,359,580
  2026–27	$63,714,653	$45,362,158	$109,076,811
  2027–28	$63,984,244	$40,565,649	$104,549,893

Analysis of statutory and voted funding over a six-year period

There was an increase in funding of $10.4M (12%), from $88.2M in 2022–23 to $98.6M in 2023–24, mainly due to the profile of funds approved in Budget 2022 to enable FINTRAC to modernize its tools and processes, build capacity in evolving threat areas, protect its intelligence and information, preserve its supervisory capacity, and expand its operations.

Funding will continue to increase to $113.9M in 2024–25 primarily as the result of new funding announced in Budget 2024 to enhance FINTRAC's cyber resiliency and ensure the implementation of additional data security safeguards.

The expected decline in funding from 2025–26 to 2027–28 is due to the sunsetting of funding received from Budget 2022 and Budget 2024 and planned savings as part of the Refocusing Government Spending initiatives.

For further information on FINTRAC’s departmental appropriations, consult the 2025–26 Main Estimates.

Future-oriented condensed statement of operations

The future-oriented condensed statement of operations provides an overview of FINTRAC’s operations for 2024–25 to 2025–26.

Table 10: Future-oriented condensed statement of operations for the year ended March 31, 2026 (dollars)

Table 10 summarizes the expenses and revenues which net to the cost of operations before government funding and transfers for 2024–25 to 2025–26. The forecast and planned amounts in this statement of operations were prepared on an accrual basis. The forecast and planned amounts presented in other sections of the Departmental Plan were prepared on an expenditure basis. Amounts may therefore differ.

A more detailed Future-Oriented Statement of Operations and Notes for 2025–26, including a reconciliation of the net cost of operations with the requested authorities, is available on FINTRAC’s website.

Human resources

This section presents an overview of the department’s actual and planned human resources from 2022–23 to 2027–28.

Table 11: Actual human resources for core responsibilities and internal services

Table 11 shows a summary of human resources, in full-time equivalents, for FINTRAC’s core responsibilities and for its internal services for the previous three fiscal years. Human resources for the current fiscal year are forecasted based on year to date.

Analysis of human resources over the last three years

Full-time Equivalents (FTE) increased from 526 in 2022–23 to 537 in 2023–24 and are expected to decrease to 534 in 2024–25. These changes are primarily linked to the FTEs provided to strengthen Canada's anti-money laundering and anti-terrorist financing regime by modernizing its tools and processes, building capacity in evolving threat areas, protecting its intelligence and information, preserving supervisory capacity and expanding its operations. In 2024–25, FINTRAC refined its program allocation methodology to attribute applicable direct and indirect costs that were previously captured under the internal services category to programs.

Table 12: Human resources planning summary for core responsibilities and internal services

Table 12 shows information on human resources, in full-time equivalents, for each of FINTRAC’s core responsibilities and for its internal services planned for the next three years.

Analysis of human resources for the next three years

The increase in FTEs from 2024–25 to 2027–28 is mainly due to FINTRAC’s planned investments to advance Centre-wide modernization efforts.

Corporate information

Departmental profile

Departmental contact information

Mailing address
Financial Transactions and Reports Analysis Centre of Canada
234 Laurier Avenue West
Ottawa, Ontario K1P 1H7
Canada

Telephone: 1-866-346-8722 (toll free)
Fax: 613-943-7931
Email: guidelines-lignesdirectrices@fintrac-canafe.gc.ca
Website: https://fintrac-canafe.canada.ca/intro-eng

Supplementary information tables

• Gender-based analysis plus

Information on FINTRAC's Departmental Sustainable Development Strategy can be found on FINTRAC's website.

Federal tax expenditures

FINTRAC’s Departmental Plan does not include information on tax expenditures.

The tax system can be used to achieve public policy objectives through the application of special measures such as low tax rates, exemptions, deductions, deferrals and credits. The Department of Finance Canada publishes cost estimates and projections for these measures each year in the Report on Federal Tax Expenditures.

This report also provides detailed background information on tax expenditures, including descriptions, objectives, historical information and references to related federal spending programs as well as evaluations and GBA Plus of tax expenditures.

Definitions

appropriation (crédit)

Any authority of Parliament to pay money out of the Consolidated Revenue Fund.

budgetary expenditures (dépenses budgétaires)

Operating and capital expenditures; transfer payments to other levels of government, departments or individuals; and payments to Crown corporations.

core responsibility (responsabilité essentielle)

An enduring function or role performed by a department. The intentions of the department with respect to a core responsibility are reflected in one or more related departmental results that the department seeks to contribute to or influence.

Departmental Plan (plan ministériel)

A report on the plans and expected performance of an appropriated department over a 3 year period. Departmental Plans are usually tabled in Parliament each spring.

departmental result (résultat ministériel)

A consequence or outcome that a department seeks to achieve. A departmental result is often outside departments’ immediate control, but it should be influenced by program-level outcomes.

departmental result indicator (indicateur de résultat ministériel)

A quantitative measure of progress on a departmental result.

departmental results framework (cadre ministériel des résultats)

A framework that connects the department’s core responsibilities to its departmental results and departmental result indicators.

Departmental Results Report (rapport sur les résultats ministériels)

A report on a department’s actual accomplishments against the plans, priorities and expected results set out in the corresponding Departmental Plan.

full-time equivalent (équivalent temps plein)

A measure of the extent to which an employee represents a full person-year charge against a departmental budget. For a particular position, the full-time equivalent figure is the ratio of number of hours the person actually works divided by the standard number of hours set out in the person’s collective agreement.

gender-based analysis plus (GBA Plus)(analyse comparative entre les sexes plus [ACS Plus])

Is an analytical tool used to support the development of responsive and inclusive policies, programs, and other initiatives. GBA Plus is a process for understanding who is impacted by the issue or opportunity being addressed by the initiative; identifying how the initiative could be tailored to meet diverse needs of the people most impacted; and anticipating and mitigating any barriers to accessing or benefitting from the initiative. GBA Plus is an intersectional analysis that goes beyond biological (sex) and socio-cultural (gender) differences to consider other factors, such as age, disability, education, ethnicity, economic status, geography (including rurality), language, race, religion, and sexual orientation.

Using GBA Plus involves taking a gender- and diversity-sensitive approach to our work. Considering all intersecting identity factors as part of GBA Plus, not only sex and gender, is a Government of Canada commitment.

government priorities (priorités gouvernementales)

For the purpose of the 2025-26 Departmental Plan, government priorities are the high-level themes outlining the government’s agenda in the most recent Speech from the Throne.

horizontal initiative (initiative horizontale)

An initiative where two or more federal departments are given funding to pursue a shared outcome, often linked to a government priority.

Indigenous business (entreprise autochtone)

For the purpose of the Directive on the Management of Procurement Appendix E: Mandatory Procedures for Contracts Awarded to Indigenous Businesses and the Government of Canada’s commitment that a mandatory minimum target of 5% of the total value of contracts is awarded to Indigenous businesses, a department that meets the definition and requirements as defined by the Indigenous Business Directory.

non budgetary expenditures (dépenses non budgétaires)

Non-budgetary authorities that comprise assets and liabilities transactions for loans, investments and advances, or specified purpose accounts, that have been established under specific statutes or under non-statutory authorities in the Estimates and elsewhere. Non-budgetary transactions are those expenditures and receipts related to the government's financial claims on, and obligations to, outside parties. These consist of transactions in loans, investments and advances; in cash and accounts receivable; in public money received or collected for specified purposes; and in all other assets and liabilities. Other assets and liabilities, not specifically defined in G to P authority codes are to be recorded to an R authority code, which is the residual authority code for all other assets and liabilities.

performance (rendement)

What a department did with its resources to achieve its results, how well those results compare to what the department intended to achieve, and how well lessons learned have been identified.

performance indicator (indicateur de rendement)

A qualitative or quantitative means of measuring an output or outcome, with the intention of gauging the performance of an department, program, policy or initiative respecting expected results.

plan (plan)

The articulation of strategic choices, which provides information on how a department intends to achieve its priorities and associated results. Generally, a plan will explain the logic behind the strategies chosen and tend to focus on actions that lead to the expected result.

planned spending (dépenses prévues)

For Departmental Plans and Departmental Results Reports, planned spending refers to those amounts presented in Main Estimates.

A department is expected to be aware of the authorities that it has sought and received. The determination of planned spending is a departmental responsibility, and departments must be able to defend the expenditure and accrual numbers presented in their Departmental Plans and Departmental Results Reports.

program (programme)

Individual or groups of services, activities or combinations thereof that are managed together within the department and focus on a specific set of outputs, outcomes or service levels.

program inventory (répertoire des programmes)

Identifies all the department’s programs and describes how resources are organized to contribute to the department’s core responsibilities and results.

result (résultat)

A consequence attributed, in part, to a department, policy, program or initiative. Results are not within the control of a single department, policy, program or initiative; instead they are within the area of the department’s influence.

statutory expenditures (dépenses législatives)

Expenditures that Parliament has approved through legislation other than appropriation acts. The legislation sets out the purpose of the expenditures and the terms and conditions under which they may be made.

target (cible)

A measurable performance or success level that a department, program or initiative plans to achieve within a specified time period. Targets can be either quantitative or qualitative.

voted expenditures (dépenses votées)

Expenditures that Parliament approves annually through an appropriation act. The vote wording becomes the governing conditions under which these expenditures may be made.