Sunday, October 28, 2007

2006-07 Annual Report on Money Laundering and Terrorist Financing in Canada

Last week, the Canadian government tabled in Parliament the 2006-07 Annual Report of the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).

The report outlines financial transactions the Centre suspects would be relevant to investigations of money laundering, terrorist activity financing or other threats to the security of Canada.

The total value of disclosed transactions reached $10 billion:
  • $8 billion in transactions of suspected money laundering
  • $209 million in transactions of suspected terrorist activity financing and other threats to the security of Canada, compared to $256 million in 2005-06
  • $1.6 billion in transaction of both suspected money laundering and terrorist financing and/or other threats to the security of Canada

FINTRAC is part of Canada’s Anti-Money Laundering and Anti-Terrorist Activity Financing Initiative. The initiative is led by the Department of Finance and includes the RCMP, the Canadian Security Intelligence Service, Public Safety Canada, Canada Revenue Agency, Canada Border Services Agency, the Communications Security Establishment and the Department of Justice.

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posted by Michel-Adrien at 4:58 pm

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