FinTRAC

FinTRAC is the Financial Transactions and Reports Analysis Centre of Canada. It is Canada's anti-money laundering (AML) and anti-terrorist financing (ATF) organization. FinTRAC's mandate is to help detect and deter money laundering and terrorist financing in Canada.

The Centre collects and analyzes financial transaction information from businesses across Canada. This includes reports on large cash transactions, suspicious transactions, and international electronic funds transfers. FinTRAC then assesses this information to identify patterns and potential threats.

FinTRAC works closely with law enforcement agencies in Canada and internationally. It provides them with actionable intelligence to investigate and prosecute money laundering and terrorist financing activities. The Centre also plays a role in ensuring that businesses comply with their reporting obligations under Canada's anti-money laundering legislation.

Businesses that are subject to FinTRAC's regulations include banks, credit unions, trust companies, securities dealers, money services businesses, and casino operators, among others. These entities are required to implement policies and procedures to identify their clients, keep records, and report certain transactions to FinTRAC.

FinTRAC's activities are crucial in safeguarding the integrity of Canada's financial system and in contributing to national security. By analyzing financial data and collaborating with partners, FinTRAC aims to disrupt illicit activities and protect Canadians from the harms associated with money laundering and terrorist financing.