AML Update: New Guidance on High Risk Corporations

There has been new guidance introduced by FINTRAC with regards to high risk corporations which took effect in October 2025.

As part of your ID verification process of a corporation, you are required to determine the beneficial owners of a corporation (generally through the articles of incorporation). If you deem the corporation to be high risk, you must now consult with the Corporations Canada website as to the listed owners.

If there are any discrepancies between the Corporations Canada registry and the Articles you have on hand, you must report this difference to Corporations Canada.

If you have any questions, please don’t hesitate to reach out to the AML Officer.