Financial Transactions and Reports Analysis Centre (FINTRAC)


FINTRAC stands for the Financial Transactions and Reports Analysis Centre of Canada. It is a federal agency that was established in 2000 to help detect, prevent, and deter money laundering and terrorist financing activities in Canada. FINTRAC works with other government departments, law enforcement agencies, financial institutions, and businesses to ensure compliance with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA).

FINTRAC collects information from reporting entities such as banks, casinos, real estate brokers/developers, life insurance companies etc., which are then analyzed by its analysts using sophisticated software tools. The analysis helps identify suspicious transactions or patterns that may be related to money laundering or terrorist financing activities. If any suspicious activity is identified through this process it will be reported to relevant authorities who can take appropriate action against those involved. In addition to collecting data from reporting entities FINTRAC also provides guidance on how they should comply with their obligations under PCMLTFA regulations.

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