Financial Transactions and Reports Analysis Centre (FINTRAC)
What is Financial Transactions and Reports Analysis Centre (FINTRAC)?
A Financial Intelligence Unit (FIU) called the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) supports Canadian law enforcement authorities in their investigations and prosecutions of money laundering and terrorism funding. It oversees and evaluates adherence to rules set forth by the minister of finance, and it has the authority to impose sanctions for violations. Ottawa is home to FINTRAC’s corporate headquarters.
FINTRAC was established to maintain the Proceeds of Crime (Money Laundering and Terrorist Financing Act of 2001) and its Regulations. It is headed by a director and chief executive and reports to the minister of finance.