The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), has published updated suspicious activity guidelines. FINTRAC is Canada’s financial intelligence unit and is tasked with the detection and prevention of money laundering and the financing of terrorist activities.
The new, more concise guidelines include revisions to:
- What is a is a suspicious transaction report?
- Reporting suspicious transactions to FINTRAC
- Money laundering and terrorist financing indicators that are sector specific.
Although the guidelines have been revised, FINTRAC advises that the reporting obligations of issuers and other organizations and individuals have not changed.
For more information, please call Barbara Hendrickson at BAX Securities Law (416) 601 -1004.
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