November 17, 2016
Quick Facts
- FINTRAC provided 1,655 disclosures of actionable financial intelligence to its police and national security partners to assist their investigations of money laundering, terrorism financing and other threats to Canada’s security.
- 483 financial intelligence disclosures were related to terrorism financing and threats to the security of Canada – a 43 percent increase over the previous year.
- The Centre conducted 739 compliance examinations of Canadian businesses across Canada.
- FINTRAC issued 22 administrative monetary penalties. Since it received the authority to issue administrative monetary penalties in 2008, the Centre has issued 95 penalties and publicly named 40 businesses.
- Under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, FINTRAC’s first priority is to safeguard the information it receives. Clear principles for the protection of privacy are set out in its governing legislation, which respects the Canadian Charter of Rights and Freedoms and the Privacy Act, and are reinforced by the Centre’s own operational policies and security measures.