Summary
Bill S-8, tabled on 3 November 2026, gives FINTRAC wider power to refuse or cancel money services business registrations and requires broader criminal record checks. It also restricts cash transactions of $10,000 or more and third-party cash deposits, targets illegal crypto ATMs and allows regulated firms to use law-enforcement information for AML work.
What it means for you
Remittance and crypto operators on the Canada-India corridor, and NRIs handling large cash sums, face stricter checks.
This summary is general information, not legal advice. The outcome of any case depends on its facts; read the source and take advice before acting.
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