Canada's financial intelligence agency revoked 82 money services licences last year, up from 12

Licences revoked in 2025-26

82 money services firms

FINTRAC revoked 82 licences in 2025-26, against 12 the year before and 17 in 2023-24.

The agency also fined nine such firms more than $198 million. In September 2025 the RCMP seized more than $56 million in cryptocurrency, the largest crypto seizure in Canadian history.

And us?

Canadians lost $704 million to online fraud in 2025, about three times the figure five years earlier. Ottawa says fewer than 10 per cent of such scams are reported.