The Tabling of Financial Transactions and Reports Analysis Centre of Canada’s 2017–18 Annual Report

Finance Minister Bill Morneau tabled in Parliament the 2017–18 Annual Report of the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). The report outlines key activities and operations that the Centre carried out in 2017–18 to help protect Canadians and the integrity of Canada’s financial system.

Over the past year, with the information that the Centre received from Canadian businesses across the country, FINTRAC was able to produce actionable financial intelligence relevant to investigating and prosecuting money laundering and terrorist activity financing. This intelligence contributed to a record number of project-level investigations, in addition to a significant number of individual investigations. FINTRAC has also seen tangible and effective results through its innovative public-private sector partnerships aimed at more effectively combatting money laundering associated with human trafficking in the sex trade, fraud and the trafficking of illicit fentanyl.

Canadian businesses play a significant role in the fight against money laundering and terrorist activity financing, and FINTRAC is responsible for ensuring compliance with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act. FINTRAC works closely with businesses and their associations to increase awareness and understanding of their compliance obligations under the Act. FINTRAC is committed to strengthening its support for Canadian businesses through reporting guidance and strategic intelligence assessments.