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Canada: FINTRAC publish 2019–20 Annual Report

The Financial Transactions and Reports Analysis Centre of Canada ('FINTRAC') published, on 17 November 2020, its 2019–20 Annual Report. In particular, the report outlines the work accomplished by FINTRAC, as well as their role in areas such as financial intelligence, compliance, and protecting personal information, among others. In addition, the report notes that FINTRAC supported the development of policy and new regulations by the Department of Finance Canada, contributed to broader efforts to enhance transparency in national security through the National Security Transparency Advisory Group, as well as supporting the work of the Anti-Money Laundering Action, Coordination and Enforcement Team. Moreover, the report outlined that 399 compliance examinations had been conducted across the country, with two administrative monetary penalties being levied against businesses, and with 6,600 enquiries from businesses responded to.

You can read the report here.

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