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Financial intelligence that contributes to the detection and deterrence of money laundering and terrorist activity financing in Canada and abroad.
Program Activity Name: Collection, Analysis and Dissemination of Financial Information. |
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Human Resources (FTEs) and Planned Spending (in millions) | |||||
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2009-2010 | 2010-2011 | 2011-2012 | |||
FTEs | Planned Spending | FTEs | Planned Spending | FTEs | Planned Spending |
266 | 42.7 | 268 | 41.2 | 268 | 27.0 |
Expected Result: Law enforcement, intelligence agencies and prosecutors received timely and relevant tactical and strategic financial intelligence useful for further actions in investigations and other actions. | |||||
Performance Indicator: | Target: | ||||
Satisfaction expressed by law enforcement and security agencies with the usefulness of case disclosures and strategic information products. | On feedback forms, recipients of information rate the information as useful and timely. | ||||
Expected Result: Reporting entities are in compliance with the PCMLTFA and related regulations. | |||||
Performance Indicator: | Target: | ||||
Level of compliance by reporting entities with PCMLTFA as measured by:
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High level of compliance (baseline to be established) |
This program activity encompasses FINTRAC's financial intelligence and compliance activities. These activities are complemented by research and government relationships activities, both domestic and international. The effective and efficient production of financial intelligence, both tactical (case disclosures) or strategic (trends and typologies) necessitate research work, ongoing discussions with partners and stakeholders, negotiation of access to public and government databases and resources, communications with other FIUs, etc.
The Centre also collaborates extensively with its international counterparts, whether by sharing information or best practices, or by taking a leadership role in the development of training sessions to share its expertise with developing FIUs. FINTRAC's continuing work with the Egmont Group and the Financial Action Task Force supports Canada's involvement in the global fight against money laundering and the financing of terrorist activities.
Expected Result: Law enforcement, intelligence agencies and prosecutors receive timely and relevant tactical and strategic financial intelligence useful for further actions in investigations and other actions.
In order to achieve the expected results, FINTRAC plans to undertake the following activities:
Expected Result: Reporting entities are in compliance with the PCMLTFA and related regulations.
Program Activity Name: Internal Services |
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Internal Services are groups of related activities and resources that are administered to support the needs of programs and other corporate obligations of an organization. These groups are: Management and Oversight Services; Communications Services; Legal Services; Human Resources Management Services; Financial Management Services; Information Management Services; Information Technology Services5 ; Real Property Services; Materiel Services; Acquisition Services; and Travel and Other Administrative Services. Internal Services include only those activities and resources that apply across an organization and not to those provided specifically to a program. | |||||
Human Resources (FTEs) and Planned Spending ($ millions) | |||||
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2009-2010 | 2010-2011 | 2011-2012 | |||
FTEs | Planned Spending | FTEs | Planned Spending | FTEs | Planned Spending |
47 | 7.5 | 47 | 7.3 | 47 | 4.7 |
In order to achieve the expected results, FINTRAC plans to undertake the following activities:
FINTRAC is an essential component of the community of organizations and functions that combat organized crime and terrorism under Canada's anti-money laundering and anti-terrorist financing (AML/ATF) regime. The Centre’s role is to facilitate the detection and deterrence of money laundering and terrorist activity financing in Canada and abroad by analyzing reported transactions and other information and making case disclosures of financial intelligence to the appropriate law enforcement agency, security and intelligence agency, or foreign financial intelligence unit, when there are reasonable grounds for suspicion of relevance to the investigation or prosecution of money laundering or terrorist activity financing offences.
By ensuring the compliance of financial institutions and other reporting entities with their obligations under the PCMLTFA, the Centre helps to create a formidable deterrent to those who would use legitimate financial channels to launder money or to finance terrorism. In Canada, banks and other financial services businesses maintain internal compliance regimes that ensure that the trail of financial transactions can be followed, and that law enforcement agencies can effectively pursue cases of suspected money laundering and terrorist activity financing, thereby strengthening Canada’s capacity to detect and deter money laundering and terrorist financing.
Money laundering and terrorist activity financing are transnational in nature, necessitating the participation of all countries for their successful detection and deterrence. FINTRAC’s work with international bodies such as the Financial Action Task Force and the Egmont Group contributes to the development of international AML/ATF policies and standards and the promotion of operational cooperation among financial intelligence units. The operational links the Centre has forged with other FIUs throughout the world are a vital part of FINTRAC’s contribution to the domestic and international fight against terrorism, money laundering and organized crime.