Thank you, Mr. Chair, for inviting FINTRAC to participate in this panel as part of your review of Bill C-2.
As was mentioned, I am joined by Dan Lambert, my assistant director for intelligence. In respect of the time of the committee, I will do the opening comments this afternoon.
This afternoon, I would like to speak briefly about the intelligence mandate of the Financial Transactions and Reports Analysis Centre of Canada, or FINTRAC, and the valuable role the centre plays in supporting the investigations of money laundering and terrorist financing by Canadian police, law enforcement and national security agencies.
I will also discuss the strategic financial intelligence we produce that enables us to identify new patterns, trends and tactics used by criminals to launder money or fund terrorist activities.
As one of the 13 federal departments and agencies that make up Canada's anti‑money laundering and anti‑terrorist financing regime, FINTRAC is responsible for ensuring compliance with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act by specific industry sectors, as well as for generating financial intelligence that will enable Canadian law enforcement and national security agencies to take appropriate action.
FINTRAC's financial intelligence has been more important than ever as criminals and terrorists have sought to take advantage of the global pandemic to enrich themselves and advance their illicit enterprises. Over the past year, the centre generated more than 320 disclosures of actionable financial intelligence related to the laundering of proceeds stemming from fraud, corruption and other financial crimes associated with the global pandemic. In total, throughout the 2020-2021 reporting period, FINTRAC provided 2,046 disclosures of actionable financial intelligence in support of investigations related to money laundering, terrorist activity financing and threats to the security of Canada.
Since becoming operational in 2001, the centre has provided more than 21,000 financial intelligence disclosures to Canada's police, law enforcement and national security agencies. Last year our financial intelligence contributed to over 376 major resource-intensive investigations and hundreds of other individual investigations at the municipal, provincial and federal levels across the country.
As I mentioned earlier, Mr. Chair, FINTRAC also produces strategic financial intelligence, the goal of which is to inform Canada's security and intelligence community, regime partners and policy decision-makers, Canadians and our international counterparts about the nature and extent of money laundering and terrorist financing activity in Canada and throughout the world. For example, FINTRAC prepared a classified financial intelligence brief early in the global pandemic to help inform law enforcement and national security agencies in select federal departments of the various types of fraudulent activity that was being directed at the Canada emergency response benefit and the Canada emergency business account. This financial intelligence brief was based on 395 suspicious transaction reports that FINTRAC received in relation to the Canada emergency response benefit and the Canadian emergency business account between January 1 and June 30, 2020.
It is important to note that our financial intelligence brief was based on information provided by businesses subject to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act. It is not evidence of any wrongdoing.
For context, Mr. Chair, our financial intelligence brief also highlighted that as of August 2020, 8.5 million unique applicants had submitted 23.72 million applications for benefits under the Canada emergency response benefit program alone.
Following this classified brief, the centre also produced and published a special bulletin identifying increased money laundering risks associated with the global pandemic. These included the laundering of proceeds of crime by counterfeiters selling fake COVID-19 test kits and pharmaceuticals and cybercriminals employing COVID-19 versions of popular phishing and blackmail scams that directed victims to send virtual currency for donations and ransom payments. The bulletin was meant to assist businesses subject to the act in managing their money laundering and terrorism financing risks during the global pandemic.
Since the first lockdown in 2020, FINTRAC has continued to receive and analyze reports, including suspicious transaction reports, and provide actionable financial intelligence to police services, law enforcement and national security agencies in Canada. We are committed to working with Canadian businesses and our domestic and international partners to protect the safety of Canadians and the integrity of Canada's financial system.
Thank you very much.