Finance committee  The legislation would allow FINTRAC to disclose additional information to law enforcement agencies. This would make their disclosures more useful to law enforcement. For example, if a financial institution were to submit a suspicious transaction report, FINTRAC can disclose the g

Finance committee  Yes.

Finance committee  FINTRAC is not an investigative body, so there is no overlap with law enforcement. It receives transaction reports, voluntary information reports, from law enforcement and sometimes from its international partners. It conducts analyses of the financial information. Where it has r

Finance committee  What can happen—and maybe this is where the confusion is coming from—is this: if the RCMP already has an investigation under way, it may voluntarily disclose information to FINTRAC.

Finance committee  Financial institutions and other reporting entities.

Finance committee  The voluntary information reports are actually quite specific.

Finance committee  They are specific in the information that they are provided. For example, they might refer to a specific individual. They might ask, do you have information in your data bank about somebody? Of course, FINTRAC, before it discloses the information, still has to apply the same test

Finance committee  The provisions in the bill are very clear: if FINTRAC employees who handle information without authorization are subject to very serious criminal penalties. In addition, if they are obliged to appear before the courts, they are not subject to... They are immune from subpoenas.

Finance committee  All I can tell you is that a FATF representative is to appear before you Thursday morning. I will tell him that this is of interest to you and that he should be prepared to answer your questions on the current procedures and mechanisms, in order to alleviate your concerns.

Finance committee  I don't want to prejudge the outcome of the Financial Action Task Force evaluation, so that's a tough question for me. There are challenges that are unique for Canada among its FATF partners. We have much stricter privacy laws in Canada, for example. And the charter sometimes imp

Finance committee  Given that the legislation is going to carve out the legal profession from suspicious transaction and other prescribed transaction reporting, and given that this was essentially the crux of the legal challenge, we are certainly comfortable that the measures for the legal professi

Finance committee  We have maintained that we believe there are already very strong privacy concerns in the legislation.

Finance committee  No, it's not.

Finance committee  It's not.

Finance committee  What Ms. Ablonczy has already mentioned is that in order to share information with its partners, FINTRAC must enter into a memorandum of understanding that must be approved by the Minister of Finance. One of the key pieces of the memorandum of understanding is to ensure that ther