Finance committee  Thank you, Mr. Chair. At FINTRAC, when we do our compliance assessments and when we go out and do exams of our entities, those findings themselves, in terms of what we find within any entity, are not made public. We don't publicly release the findings of our entities. Our law do

Finance committee  That is a good question. It is difficult to know whether there really is a problem because this is not something that is currently being measured. The association does not report to us. There is no report on this, and we are not doing anything in that area. Based on the availabl

Finance committee  It still happens, but not as much. In the early days, FINTRAC didn't have any guidelines, indicators, or even an education or information program. Five, six, or seven years ago, we started seeing fewer and fewer of these reports, particularly from the better-informed reporting en

Finance committee  Mr. Chair, we use just about every possible technique. Certainly, we have a very informative website, so there is a lot of information available on the website. If they are a new entity, there may be more specific outreach to ensure they're aware of where to find the informatio

Finance committee  I agree. I think there are certain benefits in information sharing. We've seen it through Project Protect, and the information shared around indicators of crimes related to human trafficking, for example. We've done it with Project Guardian, working with our big banks, credit uni

Finance committee  As you know, FINTRAC provides intelligence to law enforcement and national security. It's up to them to do. Many of the investigations are on the predicate offence to money laundering. If we look at StatsCan, there are lots of arrests, lots of charges every year. How many money

Finance committee  First of all, congratulations.

Finance committee  I hope it was just opening the bank account that.... We won't go there. You're right. You're all PEPs, as is Ms. Semaan. I am actually, as well. When you're a PEP, it simply means that when the bank account is being opened by any institution, credit union or otherwise, they ha

Finance committee  Over $10,000, we get about 19 million a year, and I'd have to divide—

Finance committee  Yes is the short answer, and quite well. We did well over 2,000 disclosures last year. Do we examine every electronic fund transfer that comes into FINTRAC? No. Those that we do not disclose after 10 years are segregated and disposed of. The issue is that we won't know right aw

Finance committee  No, it's large cash transactions of $10,000 or above within 24 hours. The multiple $5,000 in two days within 24 hours would get reported. With electronic fund transfers, it's automatically any electronic fund transfers of $10,000 or more within 24 hours. We also have suspicious t

Finance committee  Every sector has problems, issues, and challenges. It varies from one sector to the next. For instance, I can't say that credit unions have more trouble following the rules simply because we detected a problem at one credit union after conducting an examination. It happens in th

Finance committee  Yes, we work closely with CRA employees. Initially, we helped them set up their data reception system. Both of our organizations use the same system for transactions of $10,000 or more, so we receive the same documents. FINTRAC probably receives more suspicious transaction data t

Public Safety committee  Thank you, Mr. Chair, and good afternoon, honourable members. I'm pleased to be here with Mr. Lambert. I have with me Monsieur Juneau, who's going to assist us in flipping through these slides. I would have found it very difficult to do both at the same time. On behalf of FINT

Public Safety committee  We are able to do that. As you said, we do strategic analysis, but we also look at the tactical aspect. We can see the changes that have occurred, if there are any. These past years, we have mainly seen different payment methods, and attempts at anonymity through the use of cryp