FINTRAC updates guidance on the Ministerial Directive on Financial Transactions Associated with Iran, reinforcing EDD, reporting, and sanctions evasion controls for all Iran-linked transactions

The guidance, updated on 23 June 2026, explains obligations under Canada’s Ministerial Directive on financial transactions associated with Iran, including sanctions evasion risk assessment, identity verification, customer due diligence, source-of-funds checks, beneficial ownership information and recordkeeping. It also sets out reporting instructions for electronic funds transfers, cash, virtual currency, casino disbursements and negotiable…