FINTRAC Annual Report Highlights Sharply Increased Output of Financial Intelligence

OTTAWA, Nov. 2, 2011 /CNW/ - The Honourable Jim Flaherty, Minister of Finance, today tabled in Parliament the 2010-11 Annual Report of the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).

The report highlights that FINTRAC has since 2008 tripled its output of financial intelligence on money laundering, terrorist activity financing and threats to the security of Canada.  During the reporting year, FINTRAC provided 777 cases disclosures to police, the Canadian Security Intelligence Service, the Canada Revenue Agency, the Canada Border Services Agency, the Communications Security Establishment Canada and foreign financial intelligence units.

"The financial intelligence that FINTRAC develops is crucial to investigations of large-scale fraud and organized crime. That's why the Canadian Association of Chiefs of  Police this year adopted a resolution calling for FINTRAC's financial intelligence to be made an integral component of all organized crime investigations," said Minister Flaherty.

FINTRAC's Annual Report summarizes a number of the criminal investigations that were assisted by its financial intelligence during the year. One case uncovered this past year concerned a large international money laundering ring tied to drug trafficking and terrorist activity financing

"The large increase in our output of financial intelligence over the last three years is a result of a determined effort by us to produce more and better financial intelligence, more quickly. This output has also been driven by growing recognition by police that financial intelligence is key to following the money trail of criminals laundering the proceeds of their crimes," said FINTRAC Director Jeanne Flemming.

FINTRAC is an independent federal government agency with a mandate to assist in the detection, deterrence and prevention of money laundering and the financing of terrorist activities. FINTRAC analyzes financial transaction reports and discloses financial intelligence to law enforcement, CSIS, foreign financial intelligence units, the CRA and the CBSA where it has reasonable grounds to suspect that the information would assist in the investigation of money laundering and terrorist activity financing offences or threats to the security of Canada.

FINTRAC is part of Canada's Anti-Money Laundering and Anti-Terrorist Financing Regime. The initiative is led by the Department of Finance and includes both funded and non-funded partners. The funded partners now include the Department of Finance Canada, the Department of Justice Canada, the Public Prosecution Service of Canada (PPSC), the Financial Transactions and Reports Analysis Centre (FINTRAC), the Canada Border Services Agency (CBSA) - Immigration and Customs, the Canada Revenue Agency (CRA) - Enforcement and Disclosures Directorate (Income Tax-GST/HST), the Canada Revenue Agency - Charities Directorate, the Royal Canadian Mounted Police (RCMP), and the Canadian Security Intelligence Service (CSIS). The non-funded partners now include Public Safety Canada (PS), the Office of the Superintendent of Financial Institutions (OSFI), and the Department of Foreign Affairs and International Trade (DFAIT).

SOURCE Financial Transactions and Reports Analysis Center of Canada

For further information:

Peter Lamey,
Financial Transactions and Reports Analysis Centre of Canada,

Consult the highlights of the 2010-2011 Annual Report at:

Consult and print the Annual Report at:


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