Financial Transactions and Reports Analysis Centre of Canada

{{Short description|National financial intelligence agency of Canada}} {{distinguish|Tracfin}} {{Use Canadian English|date=April 2026}} {{Infobox government agency |agency_name = Financial Transactions and Reports Analysis Centre of Canada |nativename = Centre d'analyse des opérations et déclarations financières du Canada |nativename_a = |nativename_r = |logo = FINTRAC_Logo.png |logo_width = |logo_caption = |seal = |seal_width = |seal_caption = |formed = 2000 |preceding1 = |preceding2 = |dissolved = |superseding = |jurisdiction = |headquarters = Ottawa, Ontario, Canada |employees = 556 (2024)<ref>{{cite web|title=Population of the federal public service by department|date=12 July 2012 |url=https://www.canada.ca/en/treasury-board-secretariat/services/innovation/human-resources-statistics/population-federal-public-service-department.html}}</ref> |budget = $51.5 million |minister1_name = François-Philippe Champagne |minister1_pfo = Minister of Finance |minister2_name = |minister2_pfo = |chief1_name = Sarah Paquet<ref>{{cite web|url=https://www.fintrac-canafe.gc.ca/about-apropos/director-directrice-eng|title=Director|date=2020-11-18|access-date=2021-02-04|publisher=Financial Transactions and Reports Analysis Centre of Canada}}</ref> |chief1_position = Director and Chief Executive Officer |chief2_name = |chief2_position = |parent_agency = Department of Finance |keydocument1 = ''Proceeds of Crime (Money Laundering and Terrorist Financing) Act'' |website = {{URL|fintrac-canafe.gc.ca}} |footnotes = }}

The '''Financial Transactions and Reports Analysis Centre of Canada''' ('''FINTRAC'''; {{langx|fr|Centre d'analyse des opérations et déclarations financières du Canada}}) is the national financial intelligence agency of Canada. FINTRAC was established in 2000 under the Proceeds of Crime (Money Laundering) Act to facilitate detection and investigation of money laundering. Its mandate was expanded in December 2001 following amendments to the Proceeds of Crime Act to also disclose financial intelligence to other Canadian intelligence and law enforcement agencies with respect to suspected terrorist financing.<ref>{{cite web|url=http://www.fintrac.gc.ca/fintrac-canafe/1_e.asp|title=FINTRAC - Who We Are|access-date=2006-06-28|archive-date=2006-07-07|archive-url=https://web.archive.org/web/20060707020116/http://www.fintrac.gc.ca/fintrac-canafe/1_e.asp|url-status=dead}}</ref> FINTRAC's mandate was further expanded in 2006 under Bill C-25 to enhance the client identification, record-keeping and reporting measures, established a registration regime for money services businesses and foreign exchange dealers, and created new offences for not registering.<ref>{{Cite web|url=https://openparliament.ca/bills/39-1/C-25/?page=4|title=Bill C-25 (Historical) {{!}} openparliament.ca|website=openparliament.ca|language=en|access-date=2018-04-25}}</ref>

FINTRAC has been a member of the Egmont Group of Financial Intelligence Units, an international organization of financial intelligence bodies, since June 2002.<ref>{{cite web|url=http://www.fintrac-canafe.gc.ca/publications/inter/egmont-eng.asp|title=FINTRAC is a member of the Egmont Group|publisher=FINTRAC|date=2012-06-04|access-date=2012-06-04|archive-date=2016-03-05|archive-url=https://web.archive.org/web/20160305071911/http://www.fintrac-canafe.gc.ca/publications/inter/egmont-eng.asp|url-status=dead}}</ref>

==Activities== FINTRAC receives information from regulated entities on:

* Suspicious transactions * Suspected terrorist property * Large cash transactions<ref name=":0">A large cash transaction is considered to be CA$10,000 or more.</ref> * Outgoing or Incoming International Electronic funds transfer over $10,000 CAD<ref name=":1">{{Cite web|url=http://www.fintrac-canafe.gc.ca/reporting-declaration/Info/rptEFT-eng.asp|title=Electronic funds transfers|last=Canada|first=Financial Transactions and Reports Analysis Centre of|website=www.fintrac-canafe.gc.ca|date=6 December 2003|language=en|access-date=2018-04-25|archive-date=2018-04-26|archive-url=https://web.archive.org/web/20180426050604/http://www.fintrac-canafe.gc.ca/reporting-declaration/Info/rptEFT-eng.asp|url-status=dead}}</ref> within a 24-hour period * Cross border currency reporting

In 2009, FINTRAC estimated that the amount of money laundered on an annual basis is somewhere between $5 and $15 billion.<ref>{{Cite web|url=https://www.statcan.gc.ca/pub/85-005-x/2011001/article/11454-eng.htm#a1|title=Money laundering in Canada, 2009|website=www.statcan.gc.ca|language=en|access-date=2018-04-25}}</ref>

FINTRAC publishes annual results, quarterly updates, performance reports, and notices.<ref>{{Cite web|url=http://www.fintrac-canafe.gc.ca/about-apropos/corp-publications-eng.asp|title=Corporate reports|last=Canada|first=Financial Transactions and Reports Analysis Centre of|website=www.fintrac-canafe.gc.ca|date=30 May 2015|language=en|access-date=2018-04-26|archive-date=2018-04-27|archive-url=https://web.archive.org/web/20180427141818/http://www.fintrac-canafe.gc.ca/about-apropos/corp-publications-eng.asp|url-status=dead}}</ref>

FINTRAC analyzes approximately 19 million transactions per year.<ref name="gmnov">{{cite news |title=Raj Grewal queried federal agencies on ability to probe money laundering |first1=Daniel |last1=Leblanc |first2=Chris |last2=Hannay |date=November 28, 2018 |newspaper=The Globe and Mail |url=https://www.theglobeandmail.com/politics/article-raj-grewal-queried-federal-agencies-on-ability-to-probe-money/ |archive-url=https://web.archive.org/web/20181202111819/https://www.theglobeandmail.com/politics/article-raj-grewal-queried-federal-agencies-on-ability-to-probe-money/ |archive-date=December 2, 2018}}</ref> In 2017, FINTRAC made 2,000 disclosures to police forces.<ref name="gmnov"/>

===Public-private partnerships=== Starting in 2016, FINTRAC began a series of public-private partnerships, each with a special project name to be used when reporting suspicious activity and each with a specific type of crime to target. * Project PROTECT, launched in January 2016 in partnership with Bank of Montreal, is aimed at combating human trafficking.<ref>{{cite web |last1=Mari |first1=Joseph |title=Project Protect: An In-Depth Review of the Public-Private Partnership to Combat Human Trafficking in Canada |url=https://www.acamstoday.org/project-protect-combat-human-trafficking-in-canada/ |website=ACAMS Today |access-date=30 July 2025 |date=12 December 2017}}</ref> According to FINTRAC, reporting on money laundering related to trafficking went up 750% after the special project began.<ref>{{cite web |title=FINTRAC provides additional money laundering indicators associated with human trafficking for sexual exploitation in support of Project Protect |url=https://fintrac-canafe.canada.ca/new-neuf/nr/2021-07-30-eng |publisher=FINTRAC |access-date=2 August 2025 |date=30 July 2021}}</ref> * Project CHAMELEON, led by HSBC and established in 2017, seeks to protect victims of romance fraud.<ref>{{cite web |last1=Monroe |first1=Brian |title=Regional Report: Canada has done ‘amazing things’ to fight crime through public-private partnerships, but still hampered by stringent privacy rules, lack of AML safe harbors |url=https://www.acfcs.org/regional-report-canada-has-done-amazing-things-to-fight-crime-through-public-private-partnerships-but-still-hampered-by-stringent-privacy-rules-lack-of-aml-safe-harbors |publisher=Association of Certified Financial Crime Specialists |access-date=30 July 2025 |date=25 August 2020}}</ref> * Project GUARDIAN, started in February 2018 with the help of the Canadian Imperial Bank of Commerce, tracks the movement of opioids and fentanyl.<ref>{{cite web |title=Project GUARDIAN - Renewing Public Service through Collaboration |url=https://fintrac-canafe.canada.ca/emplo/project-projet/guardian-eng.pdf |publisher=FINTRAC |access-date=30 July 2025}}</ref> * Project ATHENA is an operation led by the Royal Canadian Mounted Police focused on the movement of money through casinos and underground banking that launched in 2019.<ref>{{cite web |title=Operational alert: Laundering the proceeds of crime through a casino-related underground banking scheme |url=https://fintrac-canafe.canada.ca/intel/operation/casino-eng |publisher=FINTRAC |access-date=31 July 2025 |date=December 2019}}</ref> * Project SHADOW, a joint effort with Scotiabank that began in December 2020, is designed to prevent child sexual exploitation.<ref>{{cite web |last1=Bradshaw |first1=James |title=Scotiabank project follows money trails to detect signs of child sexual exploitation |url=https://www.theglobeandmail.com/business/article-scotiabank-project-creates-model-to-detect-signs-of-child-sexual/ |website=Globe and Mail |access-date=30 July 2025 |archive-url=https://web.archive.org/web/20201229085922/https://www.theglobeandmail.com/business/article-scotiabank-project-creates-model-to-detect-signs-of-child-sexual/ |archive-date=29 December 2020 |date=27 December 2020 |url-status=live}}</ref> * Project LEGION kicked off in 2022 in partnership with Toronto-Dominion Bank and highlights money laundering efforts tied into the sale of cannabis.<ref>{{cite web |title=Front companies being used to launder illicit cannabis cash: intelligence agency |url=https://halifax.citynews.ca/2022/09/28/front-companies-being-used-to-launder-illicit-cannabis-cash-intelligence-agency-5880349/ |website=CityNews |access-date=31 July 2025 |date=28 September 2022}}</ref> * Project ANTON, a 2023 international endeavor named in honor of Anton Mzimba, brings attention to the illicit wildlife trade.<ref>{{cite web |last1=Bronskill |first1=Jim |title=Canada’s financial intelligence unit steps up fight against illegal wildlife trade |url=https://globalnews.ca/news/9448283/wildlife-trafficking-fintrac-canada/ |website=Global News |access-date=31 July 2025 |date=31 January 2023}}</ref> * Project DOLUS is focused on money laundering disguised through online gambling.<ref>{{cite web |title=Special Bulletin on laundering the proceeds of crime through online gambling sites |url=https://fintrac-canafe.canada.ca/intel/bulletins/gambling-jeu-eng |publisher=FINTRAC |access-date=30 July 2025 |date=January 2024}}</ref> The U.S. corollary to FINTRAC, FinCEN, has also joined in on projects PROTECT, GUARDIAN, SHADOW, and ANTON.<ref>{{cite web |title=FinCEN and Partner FIU Officials Meet in Canada for International Public-Private Partnership Events on Illicit Finance |url=https://www.fincen.gov/news/news-releases/readout-fincen-and-partner-fiu-officials-meet-canada-international-public |publisher=FinCEN |access-date=2 August 2025 |date=25 October 2024}}</ref>

==Directors==

The Director is appointed by the Governor-in-Council for a term of not more than five years during the pleasure of the Governor General and on the expiry of a first or subsequent term of office but no person shall hold office as Director for terms of more than ten years in the aggregate.<ref>{{cite web|url=http://laws-lois.justice.gc.ca/eng/acts/P-24.501/FullText.html |title=Proceeds of Crime (Money Laundering) and Terrorist Financing Act |publisher=Laws-lois.justice.gc.ca |access-date=2013-09-07}}</ref>

* Sarah Paquet, November 18, 2020<ref name="Canada">{{Cite web|url=http://www.fintrac-canafe.gc.ca/about-apropos/director-directrice-eng.asp|title=Director and Chief Executive Officer|last=Canada|first=Financial Transactions and Reports Analysis Centre of|website=www.fintrac-canafe.gc.ca|date=7 May 2008|language=en|access-date=2018-04-26|archive-date=2018-04-27|archive-url=https://web.archive.org/web/20180427141816/http://www.fintrac-canafe.gc.ca/about-apropos/director-directrice-eng.asp|url-status=dead}}</ref> * Nada Semaan, March 5, 2018<ref name="Canada"/> * Barry MacKillop ''(Interim Director)'', October 18, 2017 - March 4, 2018.<ref>{{Cite web |url=https://www.newswire.ca/news-releases/the-prime-minister-announces-changes-in-the-senior-ranks-of-the-public-service-675191303.html |title=The Prime Minister announces changes in the senior ranks of the Public Service |access-date=2018-02-27 |archive-date=2018-02-28 |archive-url=https://web.archive.org/web/20180228041303/https://www.newswire.ca/news-releases/the-prime-minister-announces-changes-in-the-senior-ranks-of-the-public-service-675191303.html |url-status=dead }}</ref> * Gérald Cossette, October 15, 2012 – October 17, 2017<ref>{{cite web |url=http://www.fintrac-canafe.gc.ca/fintrac-canafe/director-directeur-eng.asp |title=Financial Transactions and Reports Analysis Centre of Canada - Director |access-date=2014-01-31 |archive-date=2016-03-04 |archive-url=https://web.archive.org/web/20160304223220/http://www.fintrac-canafe.gc.ca/fintrac-canafe/director-directeur-eng.asp |url-status=dead }}</ref> * Jeanne M. Flemming, March 3, 2008 – 2012<ref>{{cite web |url=http://pm.gc.ca/eng/media.asp?id=1990 |title=Prime Minister announces changes in the senior ranks of the Public Service - Prime Minister of Canada |publisher=Pm.gc.ca |access-date=2013-09-07 |archive-url=https://web.archive.org/web/20100302134705/http://www.pm.gc.ca/eng/media.asp?id=1990 |archive-date=2010-03-02 |url-status=dead }}</ref> * Keith Fernandez, acting director, 2007 - 2008<ref>{{cite web |url=http://www.fintrac-canafe.gc.ca/publications/PD/pd/senior-eng.asp?m=1 |title=Travel and Hospitality Expense Reports - Search by Senior Level FINTRAC Employees - FINTRAC - Financial Transactions and Reports Analysis Centre of Canada |publisher=Fintrac-canafe.gc.ca |date=2012-06-27 |access-date=2013-09-07 |archive-date=2014-02-27 |archive-url=https://web.archive.org/web/20140227153103/http://www.fintrac-canafe.gc.ca/publications/PD/pd/senior-eng.asp?m=1 |url-status=dead }}</ref> * Horst Intscher, 2000 - 2007

==Reports==

Most FINTRAC reports can be submitted electronically or in paper. For electronic submissions, reporting entities must be enrolled in FINTRAC's electronic reporting system and can use either FINTRAC's web form or a ''batch report'', which enables the submission of several reports at once using a public key certificate.<ref>{{Cite web |last=Government of Canada |first=Financial Transactions and Reports Analysis Centre of Canada |date=2005-12-06 |title=Batch reporting {{!}} FINTRAC – Canada.ca |url=https://fintrac-canafe.canada.ca/reporting-declaration/info/batch-lots-eng |access-date=2023-04-22 |website=fintrac-canafe.canada.ca}}</ref> The following activities<ref>{{Cite web |last=Canada |first=Financial Transactions and Reports Analysis Centre of |date=30 May 2015 |title=Financial transactions that must be reported |url=http://www.fintrac-canafe.gc.ca/reporting-declaration/rpt-eng.asp |access-date=2018-04-26 |website=www.fintrac-canafe.gc.ca |language=en |archive-date=2018-04-24 |archive-url=https://web.archive.org/web/20180424122521/http://www.fintrac-canafe.gc.ca/reporting-declaration/rpt-eng.asp |url-status=dead }}</ref> are to be filed in reports to FINTRAC:

* Suspicious transactions<ref>{{Cite web |last=Government of Canada |first=Financial Transactions and Reports Analysis Centre of Canada |date=2008-06-10 |title=Reporting suspicious transactions to FINTRAC {{!}} FINTRAC – Canada.ca |url=https://fintrac-canafe.canada.ca/guidance-directives/transaction-operation/Guide3/str-eng |access-date=2023-04-22 |website=fintrac-canafe.canada.ca}}</ref> * Large cash transactions<ref name=":0" /><ref>{{Cite web |last=Government of Canada |first=Financial Transactions and Reports Analysis Centre of Canada |date=2008-06-10 |title=Guideline 7A: Submitting Large Cash Transaction Reports to FINTRAC Electronically {{!}} FINTRAC – Canada.ca |url=https://fintrac-canafe.canada.ca/guidance-directives/transaction-operation/Guide7A/lctr-eng |access-date=2023-04-22 |website=fintrac-canafe.canada.ca}}</ref> * Large virtual currency transactions<ref>{{Cite web |last=Government of Canada |first=Financial Transactions and Reports Analysis Centre of Canada |date=2021-06-01 |title=Reporting large virtual currency transactions to FINTRAC {{!}} FINTRAC – Canada.ca |url=https://fintrac-canafe.canada.ca/guidance-directives/transaction-operation/lvctr/lvctr-eng |access-date=2023-04-22 |website=fintrac-canafe.canada.ca}}</ref> * Electronic funds transfers<ref name=":1" /> * Casino disbursements<ref>{{Cite web |last=Canada |first=Financial Transactions and Reports Analysis Centre of |date=June 1, 2021 |title=Submitting Casino Disbursement Reports to FINTRAC Electronically |url=https://fintrac-canafe.canada.ca/guidance-directives/transaction-operation/Guide10A/10a-eng |access-date=2023-04-22 |website=www.fintrac-canafe.gc.ca |language=en}}</ref> * Terrorist property<ref>{{Cite web|url=http://www.fintrac-canafe.gc.ca/reporting-declaration/Info/rptTPR-eng.asp|title=Terrorist Property|last=Canada|first=Financial Transactions and Reports Analysis Centre of|website=www.fintrac-canafe.gc.ca|date=30 December 2003|language=en|access-date=2018-04-26|archive-date=2018-04-27|archive-url=https://web.archive.org/web/20180427141819/http://www.fintrac-canafe.gc.ca/reporting-declaration/Info/rptTPR-eng.asp|url-status=dead}}</ref> * Alternative to large cash transaction reports<ref>{{Cite web|url=http://www.fintrac-canafe.gc.ca/reporting-declaration/Info/ALT-eng.asp|title=Alternative to large cash transactions|last=Canada|first=Financial Transactions and Reports Analysis Centre of|website=www.fintrac-canafe.gc.ca|date=30 December 2003|language=en|access-date=2018-04-26|archive-date=2018-05-07|archive-url=https://web.archive.org/web/20180507075813/http://www.fintrac-canafe.gc.ca/reporting-declaration/Info/ALT-eng.asp|url-status=dead}}</ref>

FINTRAC can also receive the following information:

* Cross-border currency or monetary instruments reports<ref>{{Cite web|url=http://www.cbsa-asfc.gc.ca/travel-voyage/ttd-vdd-eng.html|title=Travellers - Travelling with CAN$ 10,000 or more|last=Agency|first=Government of Canada, Canada Border Services|website=www.cbsa-asfc.gc.ca|date=11 December 2013|language=en|access-date=2018-04-26}}</ref> * Voluntary Information<ref>{{Cite web |last=Government of Canada |first=Financial Transactions and Reports Analysis Centre of Canada |date=2020-05-04 |title=Providing voluntary information {{!}} FINTRAC – Canada.ca |url=https://fintrac-canafe.canada.ca/individuals-individus/vol/1-eng |access-date=2023-04-22 |website=fintrac-canafe.canada.ca}}</ref>

==Oversight==

FINTRAC reports to the Parliament of Canada through the Minister of Finance. Section 72(2) of the ''Proceeds of Crime (Money Laundering and Terrorist Financing) Act'' also mandates audits of FINTRAC by the Privacy Commissioner of Canada every two years.<ref name="appearance before finance com">{{cite web |last1=Therrien |first1=Daniel |title=Appearance before the House of Commons' Standing Committee on Finance for its statutory review of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) |url=https://www.priv.gc.ca/en/opc-actions-and-decisions/advice-to-parliament/2018/parl_20180228/ |website=Office of the Privacy Commissioner of Canada |access-date=27 June 2020 |date=1 March 2018}}</ref>

Since 2019 its national security and intelligence activities are subject to oversight by the National Security and Intelligence Review Agency and the National Security and Intelligence Committee of Parliamentarians.<ref name="appearance before finance com" />

==Criticism== In 2009, the Privacy Commissioner of Canada reported that FINTRAC was receiving and retaining personal information beyond its remit, in breach of the Privacy Act, and that this "presents an unquestionable risk to privacy by making available for use or disclosure personal information which should never have been obtained."<ref>{{cite web|url=http://www.priv.gc.ca/information/pub/ar-vr/ar-vr_fintrac_200910_e.cfm|title=Audit of the Financial Transactions and Reports Analysis Centre of Canada|access-date=2010-07-21}}</ref>

==References== {{Reflist|22em}}

==External links== * {{Official website|http://www.fintrac.gc.ca}}

Security Intelligence Service Category:Federal departments and agencies of Canada Category:Public Safety Canada Category:2000 establishments in Canada Category:Tax evasion Category:Financial regulatory authorities of Canada Category:Counterterrorism in Canada Category:Financial reporting Category:Government agencies established in 2000 Category:Organizations based in Ottawa Category:Department of Finance Canada