Canada Country Summary
Sanctions
Lower Concern
FATF AML Deficient List
Lower Concern
Terrorism
Lower Concern
Corruption
Lower Concern
US State ML Assessment
Higher Concern
Criminal Markets (GI Index)
Medium Concern
EU Tax Blacklist
Lower Concern
Offshore Finance Center
Lower Concern
Please note that although the below Summary will give a general outline of the AML risks associated with the jurisdiction, if you are a Regulated entity then you may need to demonstrate that your Jurisdictional AML risk assessment has included a full assessment of the risk elements that have been identified as underpinning overall Country AML risk. To satisfy these requirements, we would recommend that you use our Subscription area.
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Anti Money Laundering
FATF Status
Canada is not on the FATF List of Countries that have been identified as having strategic AML deficiencies
Compliance with FATF Recommendations
The last Follow-up Mutual Evaluation Report relating to the implementation of anti-money laundering and counter-terrorist financing standards in Canada was undertaken in 2021. According to that Evaluation, Canada was deemed Compliant for 11 and Largely Compliant for 23 of the FATF 40 Recommendations. It remains Highly Effective for 0 and Substantially Effective for 5 of the Effectiveness ratings.
Sanctions
There are no international sanctions currently in force against this country
Criminality
Rating |
0 (bad) - 100 (good) |
|---|---|
| Transparency International Corruption Index | 75 |
| World Bank: Control of Corruption Percentile Rank | 95 |
Corruption in Canada is low and comparable to that in the United States, posing no significant barrier to foreign investment. The country has robust anti-corruption laws, including the Criminal Code and the Corruption of Foreign Public Officials Act, which are actively enforced to prosecute violations. Additionally, Canada is a signatory to several international anti-corruption conventions, and its procurement framework includes measures to prevent companies convicted of corruption from securing government contracts.
Economy
Canada has a robust economy characterized by strong fundamentals, a skilled workforce, and abundant natural resources, making it an attractive destination for foreign direct investment (FDI), particularly from the United States, which accounts for 46% of total FDI. The country experienced an inflation rate of 3.9% in 2023, a decrease from 6.8% in 2022, driven by lower energy prices and supply chain improvements, although food and housing prices remain high.
Canada offers a stable and attractive investment climate, bolstered by its strong economic fundamentals, skilled workforce, and abundant natural resources. The country actively encourages foreign direct investment (FDI), with the United States being the largest investor, accounting for 46% of total FDI. However, Canada imposes certain restrictions on foreign investments in sectors such as residential real estate, telecommunications, and banking, which may complicate the investment landscape.
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- Risk Analysis
- Corruption
- Economy
- Sanctions
- Narcotics
- Executive Summaries
- Investment Climates
- FATF Status
- Compliance
- Key Findings