Azərbaycanca
Deutsch
English
Français
Русский
ภาษาไทย
Türkçe
Українська
The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC; French: Centre d'analyse des opérations et déclarations financières du Canada) is the national financial intelligence agency of Canada. FINTRAC was established in 2000 under the Proceeds of Crime (Money Laundering) Act to facilitate detection and investigation of money laundering. Its mandate was expanded in December 2001 following amendments to the Proceeds of Crime Act to also disclose financial intelligence to other Canadian intelligence and law enforcement agencies with respect to suspected terrorist financing. FINTRAC's mandate was further expanded in 2006 under Bill C-25 to enhance the client identification, record-keeping and reporting measures, established a registration regime for money services businesses and foreign exchange dealers, and created new offences for not registering.
| Centre d'analyse des opérations et déclarations financières du Canada | |
 | |
| Agency overview | |
|---|---|
| Formed | 2000 |
| Headquarters | Ottawa, Ontario, Canada |
| Employees | 556 (2024) |
| Annual budget | $51.5 million |
| Minister responsible |
|
| Agency executive |
|
| Parent agency | Department of Finance |
| Key document |
|
| Website | fintrac-canafe |
FINTRAC has been a member of the Egmont Group of Financial Intelligence Units, an international organization of financial intelligence bodies, since June 2002.
Activities
FINTRAC receives information from regulated entities on:
- Suspicious transactions
- Suspected terrorist property
- Large cash transactions
- Outgoing or Incoming International Electronic funds transfer over $10,000 CAD within a 24-hour period
- Cross border currency reporting
In 2009, FINTRAC estimated that the amount of money laundered on an annual basis is somewhere between $5 and $15 billion.
FINTRAC publishes annual results, quarterly updates, performance reports, and notices.
FINTRAC analyzes approximately 19 million transactions per year. In 2017, FINTRAC made 2,000 disclosures to police forces.
Directors
The Director is appointed by the Governor-in-Council for a term of not more than five years during the pleasure of the Governor General and on the expiry of a first or subsequent term of office but no person shall hold office as Director for terms of more than ten years in the aggregate.
- Sarah Paquet, November 18, 2020
- Nada Semaan, March 5, 2018
- Barry MacKillop (Interim Director), October 18, 2017 - March 4, 2018.
- Gérald Cossette, October 15, 2012 – October 17, 2017
- Jeanne M. Flemming, March 3, 2008 – 2012
- Keith Fernandez, acting director, 2007 - 2008
- Horst Intscher, 2000 - 2007
Reports
Most FINTRAC reports can be submitted electronically or in paper. For electronic submissions, reporting entities must be enrolled in FINTRAC's electronic reporting system and can use either FINTRAC's web form or a batch report, which enables the submission of several reports at once using a public key certificate. The following activities are to be filed in reports to FINTRAC:
- Suspicious transactions
- Large cash transactions
- Large virtual currency transactions
- Electronic funds transfers
- Casino disbursements
- Terrorist property
- Alternative to large cash transaction reports
FINTRAC can also receive the following information:
- Cross-border currency or monetary instruments reports
- Voluntary Information
Oversight
FINTRAC reports to the Parliament of Canada through the Minister of Finance. Section 72(2) of the Proceeds of Crime (Money Laundering and Terrorist Financing) Act also mandates audits of FINTRAC by the Privacy Commissioner of Canada every two years.
Since 2019 its national security and intelligence activities are subject to oversight by the National Security and Intelligence Review Agency and the National Security and Intelligence Committee of Parliamentarians.
Criticism
In 2009, the Privacy Commissioner of Canada reported that FINTRAC was receiving and retaining personal information beyond its remit, in breach of the Privacy Act, and that this "presents an unquestionable risk to privacy by making available for use or disclosure personal information which should never have been obtained."
See also
- FinCEN
- Suspicious activity report
- Tax avoidance and tax evasion
- Office of Terrorism and Financial Intelligence (United States)
References
- "Population of the federal public service by department". 12 July 2012.
- "Director". Financial Transactions and Reports Analysis Centre of Canada. 2020-11-18. Retrieved 2021-02-04.
- "FINTRAC - Who We Are". Retrieved 2006-06-28.
- "Bill C-25 (Historical) | openparliament.ca". openparliament.ca. Retrieved 2018-04-25.
- "FINTRAC is a member of the Egmont Group". FINTRAC. 2012-06-04.
- A large cash transaction is considered to be CA$10,000 or more.
- Canada, Financial Transactions and Reports Analysis Centre of (6 December 2003). "Electronic funds transfers". www.fintrac-canafe.gc.ca. Retrieved 2018-04-25.
- "Money laundering in Canada, 2009". www.statcan.gc.ca. Retrieved 2018-04-25.
- Canada, Financial Transactions and Reports Analysis Centre of (30 May 2015). "Corporate reports". www.fintrac-canafe.gc.ca. Retrieved 2018-04-26.
- Leblanc, Daniel; Hannay, Chris (November 28, 2018). "Raj Grewal queried federal agencies on ability to probe money laundering". The Globe and Mail. Archived from the original on December 2, 2018.
- "Proceeds of Crime (Money Laundering) and Terrorist Financing Act". Laws-lois.justice.gc.ca. Retrieved 2013-09-07.
- Canada, Financial Transactions and Reports Analysis Centre of (7 May 2008). "Director and Chief Executive Officer". www.fintrac-canafe.gc.ca. Retrieved 2018-04-26.
- "The Prime Minister announces changes in the senior ranks of the Public Service". Archived from the original on 2018-02-28. Retrieved 2018-02-27.
- "Financial Transactions and Reports Analysis Centre of Canada - Director".
- "Prime Minister announces changes in the senior ranks of the Public Service - Prime Minister of Canada". Pm.gc.ca. Archived from the original on 2010-03-02. Retrieved 2013-09-07.
- "Travel and Hospitality Expense Reports - Search by Senior Level FINTRAC Employees - FINTRAC - Financial Transactions and Reports Analysis Centre of Canada". Fintrac-canafe.gc.ca. 2012-06-27. Retrieved 2013-09-07.
- Government of Canada, Financial Transactions and Reports Analysis Centre of Canada (2005-12-06). "Batch reporting | FINTRAC – Canada.ca". fintrac-canafe.canada.ca. Retrieved 2023-04-22.
- Canada, Financial Transactions and Reports Analysis Centre of (30 May 2015). "Financial transactions that must be reported". www.fintrac-canafe.gc.ca. Retrieved 2018-04-26.
- Government of Canada, Financial Transactions and Reports Analysis Centre of Canada (2008-06-10). "Reporting suspicious transactions to FINTRAC | FINTRAC – Canada.ca". fintrac-canafe.canada.ca. Retrieved 2023-04-22.
- Government of Canada, Financial Transactions and Reports Analysis Centre of Canada (2008-06-10). "Guideline 7A: Submitting Large Cash Transaction Reports to FINTRAC Electronically | FINTRAC – Canada.ca". fintrac-canafe.canada.ca. Retrieved 2023-04-22.
- Government of Canada, Financial Transactions and Reports Analysis Centre of Canada (2021-06-01). "Reporting large virtual currency transactions to FINTRAC | FINTRAC – Canada.ca". fintrac-canafe.canada.ca. Retrieved 2023-04-22.
- Canada, Financial Transactions and Reports Analysis Centre of (June 1, 2021). "Submitting Casino Disbursement Reports to FINTRAC Electronically". www.fintrac-canafe.gc.ca. Retrieved 2023-04-22.
- Canada, Financial Transactions and Reports Analysis Centre of (30 December 2003). "Terrorist Property". www.fintrac-canafe.gc.ca. Retrieved 2018-04-26.
- Canada, Financial Transactions and Reports Analysis Centre of (30 December 2003). "Alternative to large cash transactions". www.fintrac-canafe.gc.ca. Retrieved 2018-04-26.
- Agency, Government of Canada, Canada Border Services (11 December 2013). "Travellers - Travelling with CAN$ 10,000 or more". www.cbsa-asfc.gc.ca. Retrieved 2018-04-26.
{{cite web}}: CS1 maint: multiple names: authors list (link) - Government of Canada, Financial Transactions and Reports Analysis Centre of Canada (2020-05-04). "Providing voluntary information | FINTRAC – Canada.ca". fintrac-canafe.canada.ca. Retrieved 2023-04-22.
- Therrien, Daniel (1 March 2018). "Appearance before the House of Commons' Standing Committee on Finance for its statutory review of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA)". Office of the Privacy Commissioner of Canada. Retrieved 27 June 2020.
- "Audit of the Financial Transactions and Reports Analysis Centre of Canada". Retrieved 2010-07-21.
External links
- Official website
Author: www.NiNa.Az
Publication date:
wikipedia, wiki, book, books, library, article, read, download, free, free download, mp3, video, mp4, 3gp, jpg, jpeg, gif, png, picture, music, song, movie, book, game, games, mobile, phone, android, ios, apple, mobile phone, samsung, iphone, xiomi, xiaomi, redmi, honor, oppo, nokia, sonya, mi, pc, web, computer
The Financial Transactions and Reports Analysis Centre of Canada FINTRAC French Centre d analyse des operations et declarations financieres du Canada is the national financial intelligence agency of Canada FINTRAC was established in 2000 under the Proceeds of Crime Money Laundering Act to facilitate detection and investigation of money laundering Its mandate was expanded in December 2001 following amendments to the Proceeds of Crime Act to also disclose financial intelligence to other Canadian intelligence and law enforcement agencies with respect to suspected terrorist financing FINTRAC s mandate was further expanded in 2006 under Bill C 25 to enhance the client identification record keeping and reporting measures established a registration regime for money services businesses and foreign exchange dealers and created new offences for not registering Financial Transactions and Reports Analysis Centre of CanadaCentre d analyse des operations et declarations financieres du CanadaAgency overviewFormed2000HeadquartersOttawa Ontario CanadaEmployees556 2024 Annual budget 51 5 millionMinister responsibleChrystia Freeland Minister of FinanceAgency executiveSarah Paquet Director and Chief Executive OfficerParent agencyDepartment of FinanceKey documentProceeds of Crime Money Laundering and Terrorist Financing ActWebsitefintrac canafe wbr gc wbr ca FINTRAC has been a member of the Egmont Group of Financial Intelligence Units an international organization of financial intelligence bodies since June 2002 ActivitiesFINTRAC receives information from regulated entities on Suspicious transactions Suspected terrorist property Large cash transactions Outgoing or Incoming International Electronic funds transfer over 10 000 CAD within a 24 hour period Cross border currency reporting In 2009 FINTRAC estimated that the amount of money laundered on an annual basis is somewhere between 5 and 15 billion FINTRAC publishes annual results quarterly updates performance reports and notices FINTRAC analyzes approximately 19 million transactions per year In 2017 FINTRAC made 2 000 disclosures to police forces DirectorsThe Director is appointed by the Governor in Council for a term of not more than five years during the pleasure of the Governor General and on the expiry of a first or subsequent term of office but no person shall hold office as Director for terms of more than ten years in the aggregate Sarah Paquet November 18 2020 Nada Semaan March 5 2018 Barry MacKillop Interim Director October 18 2017 March 4 2018 Gerald Cossette October 15 2012 October 17 2017 Jeanne M Flemming March 3 2008 2012 Keith Fernandez acting director 2007 2008 Horst Intscher 2000 2007ReportsMost FINTRAC reports can be submitted electronically or in paper For electronic submissions reporting entities must be enrolled in FINTRAC s electronic reporting system and can use either FINTRAC s web form or a batch report which enables the submission of several reports at once using a public key certificate The following activities are to be filed in reports to FINTRAC Suspicious transactions Large cash transactions Large virtual currency transactions Electronic funds transfers Casino disbursements Terrorist property Alternative to large cash transaction reports FINTRAC can also receive the following information Cross border currency or monetary instruments reports Voluntary InformationOversightFINTRAC reports to the Parliament of Canada through the Minister of Finance Section 72 2 of the Proceeds of Crime Money Laundering and Terrorist Financing Act also mandates audits of FINTRAC by the Privacy Commissioner of Canada every two years Since 2019 its national security and intelligence activities are subject to oversight by the National Security and Intelligence Review Agency and the National Security and Intelligence Committee of Parliamentarians CriticismIn 2009 the Privacy Commissioner of Canada reported that FINTRAC was receiving and retaining personal information beyond its remit in breach of the Privacy Act and that this presents an unquestionable risk to privacy by making available for use or disclosure personal information which should never have been obtained See alsoFinCEN Suspicious activity report Tax avoidance and tax evasion Office of Terrorism and Financial Intelligence United States References Population of the federal public service by department 12 July 2012 Director Financial Transactions and Reports Analysis Centre of Canada 2020 11 18 Retrieved 2021 02 04 FINTRAC Who We Are Retrieved 2006 06 28 Bill C 25 Historical openparliament ca openparliament ca Retrieved 2018 04 25 FINTRAC is a member of the Egmont Group FINTRAC 2012 06 04 A large cash transaction is considered to be CA 10 000 or more Canada Financial Transactions and Reports Analysis Centre of 6 December 2003 Electronic funds transfers www fintrac canafe gc ca Retrieved 2018 04 25 Money laundering in Canada 2009 www statcan gc ca Retrieved 2018 04 25 Canada Financial Transactions and Reports Analysis Centre of 30 May 2015 Corporate reports www fintrac canafe gc ca Retrieved 2018 04 26 Leblanc Daniel Hannay Chris November 28 2018 Raj Grewal queried federal agencies on ability to probe money laundering The Globe and Mail Archived from the original on December 2 2018 Proceeds of Crime Money Laundering and Terrorist Financing Act Laws lois justice gc ca Retrieved 2013 09 07 Canada Financial Transactions and Reports Analysis Centre of 7 May 2008 Director and Chief Executive Officer www fintrac canafe gc ca Retrieved 2018 04 26 The Prime Minister announces changes in the senior ranks of the Public Service Archived from the original on 2018 02 28 Retrieved 2018 02 27 Financial Transactions and Reports Analysis Centre of Canada Director Prime Minister announces changes in the senior ranks of the Public Service Prime Minister of Canada Pm gc ca Archived from the original on 2010 03 02 Retrieved 2013 09 07 Travel and Hospitality Expense Reports Search by Senior Level FINTRAC Employees FINTRAC Financial Transactions and Reports Analysis Centre of Canada Fintrac canafe gc ca 2012 06 27 Retrieved 2013 09 07 Government of Canada Financial Transactions and Reports Analysis Centre of Canada 2005 12 06 Batch reporting FINTRAC Canada ca fintrac canafe canada ca Retrieved 2023 04 22 Canada Financial Transactions and Reports Analysis Centre of 30 May 2015 Financial transactions that must be reported www fintrac canafe gc ca Retrieved 2018 04 26 Government of Canada Financial Transactions and Reports Analysis Centre of Canada 2008 06 10 Reporting suspicious transactions to FINTRAC FINTRAC Canada ca fintrac canafe canada ca Retrieved 2023 04 22 Government of Canada Financial Transactions and Reports Analysis Centre of Canada 2008 06 10 Guideline 7A Submitting Large Cash Transaction Reports to FINTRAC Electronically FINTRAC Canada ca fintrac canafe canada ca Retrieved 2023 04 22 Government of Canada Financial Transactions and Reports Analysis Centre of Canada 2021 06 01 Reporting large virtual currency transactions to FINTRAC FINTRAC Canada ca fintrac canafe canada ca Retrieved 2023 04 22 Canada Financial Transactions and Reports Analysis Centre of June 1 2021 Submitting Casino Disbursement Reports to FINTRAC Electronically www fintrac canafe gc ca Retrieved 2023 04 22 Canada Financial Transactions and Reports Analysis Centre of 30 December 2003 Terrorist Property www fintrac canafe gc ca Retrieved 2018 04 26 Canada Financial Transactions and Reports Analysis Centre of 30 December 2003 Alternative to large cash transactions www fintrac canafe gc ca Retrieved 2018 04 26 Agency Government of Canada Canada Border Services 11 December 2013 Travellers Travelling with CAN 10 000 or more www cbsa asfc gc ca Retrieved 2018 04 26 a href wiki Template Cite web title Template Cite web cite web a CS1 maint multiple names authors list link Government of Canada Financial Transactions and Reports Analysis Centre of Canada 2020 05 04 Providing voluntary information FINTRAC Canada ca fintrac canafe canada ca Retrieved 2023 04 22 Therrien Daniel 1 March 2018 Appearance before the House of Commons Standing Committee on Finance for its statutory review of the Proceeds of Crime Money Laundering and Terrorist Financing Act PCMLTFA Office of the Privacy Commissioner of Canada Retrieved 27 June 2020 Audit of the Financial Transactions and Reports Analysis Centre of Canada Retrieved 2010 07 21 External linksOfficial website