Canada is active in the international fight against money laundering.
We are a founding member of the Financial Action Task Force (FATF) on money laundering, established in 1989 by the G7. We participate in the FATF peer evaluation program and contribute to research on money laundering and terrorist financing trends and typologies.
Canada’s domestic regime reflects international standards. We have one of the highest levels of compliance among FATF jurisdictions.
Canada’s main agency for monitoring money laundering is the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).
FINTRAC collects, analyses, assesses and shares information to help detect, prevent and deter money laundering and the financing of terrorist activities here and abroad.
Financial Action Task Force (FATF)
The FATF sets international standards for combating:
- money laundering
- the financing of terrorism
- the financing of illegal arms
FATF’s standards are made with input from governments, the private sector, and civil society. They provide authorities with a framework to act against criminals and address threats to the international financial system, including the financing of the proliferation of weapons of mass destruction.
The Department of Finance is the lead agency representing Canada at the FATF and works in close cooperation with the following departments and agencies:
- Global Affairs Canada
- Justice Canada
- Public Safety
- Canadian Security Intelligence Service
- Canada Revenue Agency
- Public Prosecution Service of Canada
- Canada Border Services Agency
- Royal Canadian Mounted Police (RCMP)
- Office of the Superintendent of Financial Institutions
- Proceeds of Crime (Money Laundering) and Terrorist Financing Act
- Financial Action Task Force
- Egmont Group
- UN International Money Laundering Information Network
- UN Office on Drugs and Crime - Global Programme Against Money Laundering
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