Canada is taking a proactive step in combating financial crime by establishing the Financial Crimes Agency (FCA), which will be responsible for investigating and prosecuting financial offenses. This move comes after a public inquiry revealed that Canada was lagging behind international standards in tackling money laundering. The governing Liberal party introduced the bill, which has already passed its first reading in parliament, indicating a swift legislative process. In addition to the FCA, Canada plans to ban cryptocurrency ATMs, which have been exploited by criminals for scams and laundering activities. With nearly 4,000 cryptocurrency ATMs, Canada has the highest per capita rate in the world, highlighting the urgency of this measure. The new agency aims to address the challenges faced by the Royal Canadian Mounted Police (RCMP), which has struggled with resources and political will to effectively investigate financial crimes. Jessica Davis, a former intelligence analyst, emphasized the importance of this initiative as a necessary investment to enhance enforcement capabilities. The contrast with the US is stark, as the Biden administration faces criticism for weakening financial crime investigations, particularly following high-profile pardons and a shift in focus towards immigration enforcement. The FCA's establishment has garnered support from anti-corruption advocates, who stress the need for coordinated efforts among regulatory agencies to maximize its effectiveness.