FINTRAC enters into agreements to share financial intelligence on money laundering and terrorist financing with Aruba, Cayman Islands and Colombia

News Release

OTTAWA - The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) has entered into agreements with its counterpart agencies in Aruba, Cayman Islands and Colombia. These Memoranda of Understanding set out terms for the sharing of financial intelligence on suspected money laundering and terrorist activity financing and the protection of personal information.

FINTRAC has entered into agreements with its counterpart agencies, the Unusual Transactions Reporting Office of Aruba, the Financial Reporting Authority of Cayman Islands and the Financial Information and Analysis Unit of the Republic of Colombia. Each memorandum of understanding was entered into under the authority of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act. It brings to twenty-six the total number of such international agreements that have been entered into by FINTRAC.

Money laundering and terrorist financing can extend beyond national borders. Detecting and deterring these criminal activities requires cooperation on the part of many countries. These newly signed memoranda of understanding will foster the exchange of financial intelligence and will enhance the information available to Canadian law enforcement and intelligence agencies.
FINTRAC is an independent federal government agency, created in July 2000, with a mandate to collect, analyze, assess and, where appropriate, disclose financial intelligence in order to assist in the detection, prevention and deterrence of money laundering and the financing of terrorist activities.

Media Inquiries:

Peter Lamey
Financial Transactions and Reports Analysis Centre of Canada
(613) 943-3399

More information about FINTRAC can be found at: http://www.fintrac.gc.ca

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2016-12-15

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FINTRAC enters into agreements to share financial intelligence on money laundering and terrorist financing with Aruba, Cayman Islands and Colombia

News Release

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