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ARCHIVED - Financial Transactions and Reports Analysis Centre of Canada

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SECTION II - ANALYSIS OF PROGRAM ACTIVITIES BY STRATEGIC OUTCOME

Analysis by Program Activity

This section outlines the results achieved by FINTRAC's program activity Collection, Analysis and Dissemination of Financial Information. The program activity supports the achievement of the Centre's Priorities and Strategic Outcome.

Strategic Outcome:

Financial intelligence that contributes to the detection and deterrence of money laundering and terrorist activity financing in Canada and abroad.

Financial Resources ($ millions):

Planned Spending	Authorities	Actual Spending*
$55.4	$52.8	$51.1

Human Resources:

Planned	Actual	Difference
271 FTEs	319 FTEs	48 FTEs

* Resource figures for FINTRAC's program activity Collection, Analysis and Dissemination of Financial Information include all associated corporate support costs.

Performance Indicators	Results Achieved
Program Activity: Collection, Analysis and Dissemination of Financial Information
Performance Measure: High quality case disclosures are produced and disseminated on a timely basis
Number of case disclosures	210 case disclosures 171 were for suspected money laundering 29 were for suspected terrorist activity financing and/or other threats to the security of Canada 10 involved both suspected money laundering and suspected terrorist financing activity and/or threats to the security of Canada
Feedback from disclosure recipients	67 per cent of FINTRAC's disclosures provided information useful for intelligence purposes 43 per cent of the feedback received said disclosure provided a contribution to ongoing investigation 8 per cent triggered a new investigation 25 per cent contributed to a case expected to be prosecuted 64 per cent provided names of, or leads on, previously unknown persons or businesses/entities
Performance Measure: Strategic information on money laundering and terrorist financing is disseminated to partners, stakeholders and the general public
Performance Indicators	Results Achieved
Number of products offered Feedback received on products disseminated	Three new strategic intelligence products offered in 2007-2008 Positive feedback from recipients on products offered: Perspectives Financial Intelligence Briefs Backgrounders Money Laundering and Terrorist Activity Financing Watch
Performance Measure: High levels of compliance are attained by reporting entities in meeting their legislative obligations
Performance Indicators	Results Achieved
Percentage of reports filed within the legislated timeframe	Over 21,626,000 reports were filed with FINTRAC in 2007-2008. Of these reports, over 91 per cent were filed within the legislated timeframe. FINTRAC's new tools allowed for reports to be validated for quality upon filing. In 2007-2008, the number of reports that were returned to their originator for further action increased by 21 per cent.
Number of compliance examinations performed	In 2007-2008, FINTRAC's compliance unit performed 277 examinations of reporting entities in all sectors. 257 additional compliance examinations were conducted by regulators under their MOU with FINTRAC.
Number of non-compliance disclosures	In fiscal 2007-2008, FINTRAC determined in five cases that there were sufficient grounds to make a disclosure to law enforcement about an entity not respecting its obligations in reporting, as set out in the PCMLTFA and associated regulations. Since 2004-05, twelve such cases have been disclosed by FINTRAC to law enforcement for investigation and prosecution.
Number of outreach sessions delivered to reporting entities	FINTRAC delivered over 370 presentations, meetings and seminars with reporting entities, associations and regulators, reaching over 18,335 people. 24 information sessions to inform specifically on new obligations related to the amendments of the PCMLTFA were delivered to reporting entities in 10 cities. 25 feedback sessions were held specifically to highlight the contribution of reporting sectors to the AML/ATF Regime.
Performance Measure: Strong and mutually beneficial domestic and international relationships in support of strengthening detection and deterrence of money laundering and terrorist activity financing in Canada and abroad.
Performance Indicators	Results Achieved
Extent and impact of FINTRAC's involvement in key national and international forums	FINTRAC continues its successful involvement in initiatives such as the Public Security and Anti-Terrorism Initiative, the Anti-Money Laundering and Anti-Terrorist Financing Regime, the National Coordinating Committee on Organized Crime, the National Integrated Interagency Information System and with other stakeholders and regulatory groups.
Extent and impact of FINTRAC's involvement in key international forums such as EGMONT Group and the Financial Action Task Force (FATF)	The EGMONT permanent Secretariat officially opened in Toronto in February 2008. FINTRAC continued its successful involvement in the Egmont Committee, the Egmont Group Working Groups, at the Financial Action Task Force, the Asia-Pacific Group and the Caribbean FATF. FINTRAC held eight outreach visits to MOU partners. FINTRAC hosted two highly successful training sessions under the auspice of its International Technical Assistance Program for 15 of participants from 4 jurisdictions.