FATF Terrorist Financing Report

This study was prepared by the Financial Action Task Force (FATF). It examines the means used by terrorists to raise funds and the wide variety of methods used to move money within and between organizations. The adaptability and opportunism shown by terrorist organizations suggests that all the methods that exist to move money around the globe are to some extent at risk. (Read the FATF Terrorist Financing Report.)

FINTRAC Webinars on changes to PCMLTFA

FINTRAC has announced a series of Web-based seminars (webinars) concerning upcoming changes to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA). A separate webcast will be offered exclusively on the subject of the new risk-based approach element and provide guidance on risk assessement, risk mitigation and enhanced due diligence measures. To participate, register at the FINTRAC website.

FINTRAC Presentations

Presentations on new requirements for reporting entities under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) are now available on FINTRAC’s Web site. These presentations attempt to summarize new requirements under the Act as well as the related Regulations. They are provided as general information only. They are not legal advice and are not intended to replace the Act and Regulations. (View the FINTRAC Presentations.)

Canada Makes Progress in Combatting Money Laundering and Terrorist Financing

The Honourable Jim Flaherty, Minister of Finance, said a report released by the Financial Action Task Force (FATF) shows Canada has made steady progress in combatting money laundering and terrorist financing. A summary of the Mutual Evaluation Report is available now and the full report will be posted in mid-March. (View the Media Release and Report Summary.)

New FINTRAC Guidelines - February 2008

FINTRAC has issued revised Guidelines which include new requirements that will come into force June 23, 2008. The Guidelines address the Implementation of a Compliance Regime and Record Keeping and Client Identification. (View the FINTRAC webpage for more information.)

Minister of Finance Opens Egmont Secretariat Headquarters in Toronto

The Honourable Jim Flaherty, Canada's Minister of Finance, today officially opened the permanent headquarters of the secretariat of the Egmont Group in Toronto. The Egmont Group is an organization of 106 of the world’s financial intelligence units, including the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). (View the News Release.)

Canada Expands Its Anti-Money-Laundering and Anti-Terrorist-Financing Regime

The Honourable Jim Flaherty, Minister of Finance, and the Honourable Stockwell Day, Minister of Public Safety, today announced the publication of final regulations in the Government’s ongoing efforts to make Canada an unwelcome place for money laundering and terrorism financing. Under the new regulations, real estate developers will be required to meet client identification, record-keeping and transaction-reporting requirements under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act. In addition, casinos will have to report to the Financial Transactions and Reports Analysis Centre of Canada any large disbursements and keep records in respect of these transactions. The regulations, to be published in the Canada Gazette on February 20, 2008, are necessary steps in bringing the Canadian anti-money-laundering and anti-terrorist-financing regime into line with the revised international standards of the Financial Action Task Force. View the News Release.)