Financial Transactions and Reports Analysis Centre of Canada
Canada's financial intelligence unit; coordinated with US Treasury on November 2026 Iran exchanger sanctions.
FINTRAC coordinated with the US Treasury on the 6 November 2026 designation of eight Canadian money services businesses, among them Million Exchange and Farah Exchange. Treasury says the firms swap Iranian rials for crypto assets and remain operational.
Last refreshed: 8 November 2026 · Appears in 1 active topic
Will FINTRAC act against exchangers Washington says still serve Iran?
Timeline for Financial Transactions and Reports Analysis Centre of Canada
Worked with Treasury on the action
Iran Conflict 2026: US blacklists eight exchangers in CanadaBackground
The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) is Canada's financial intelligence unit and its Anti-Money Laundering and anti-terrorist financing supervisor. It checks that businesses comply with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, and passes financial intelligence to police and security agencies while acting at Arm's length from them.
FINTRAC is headquartered in Ottawa, with regional offices in Montréal, Toronto and Vancouver, and reports to the Minister of Finance. Canadian money services businesses carry a registration number under its regime; OFAC's listings of the eight firms designated in November 2026 give each one's number.
On 6 November 2026 the US Treasury coordinated with FINTRAC on designating eight Canadian exchangers that Treasury alleges dealt with wallets linked to Iran's Revolutionary Guards. Treasury says some already trade under new names, and only Canadian authorities can close them.
What is FINTRAC?
What did FINTRAC do in the US sanctions on Canadian exchangers?
Who does FINTRAC report to?
Written with AI from Lowdown's published reporting. Not individually reviewed by an editor. Updated 8 November 2026. Editorial standards.