Sure.
Madam Chair, I will state for the purpose of this committee that it has been my opinion and observation through the testimony of the witness that he has equated this to much of the regular transactions that go through FINTRAC.
I started to talk with specificity around section 4 of the order, which implements a reporting obligation for those entities with suspicious financial transactions. The order states that:
Those entities must also report to the Centre every financial transaction that occurs or that is attempted in the course of their activities in respect of which there are reasonable grounds to suspect that (a) the transaction is related to the commission or the attempted commission of a money laundering offence by a designated person; or (b) the transaction is related to the commission or the attempted commission of a terrorist activity financing offence by a designated person.
For clarity, under section 4, Mr. MacKillop, the “Centre” refers to FINTRAC. Is that correct?