FinCEN Mid-Year Numbers for 2009 Indicate Shifting Suspicious Activity

On January 22, 2010 the Financial Crimes Enforcement Network (FinCEN) released its latest edition of The SAR Activity Review - By the Numbers, which covers Suspicious Activity Report (SAR) filings for the first six months of 2009. Activities involving suspected check fraud, including traveler's checks and counterfeit checks show significant increases.

FINTRAC issues administrative monetary penalties against two entities

In December 2009, the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) assessed administrative monetary penalties against two money services businesses for violating the Proceeds of Crime Money Laundering and Terrorist Financing Act (PCMLTFA).

FINTRAC’s Annual Report highlights efforts to follow the money trail

On November 17, 2009 The Minister of Finance tabled Parliament the 2008-09 Annual Report of the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). The report highlights that FINTRAC provided 556 case disclosures to law enforcement, the Canadian Security Intelligence Service, the Canada Revenue Agency, the Canada Border Services Agency, the Communications Security Establishment Canada and to foreign financial intelligence units.