Who we are

Raison d’être

The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) is Canada’s financial intelligence unit (FIU). The Centre assists in the detection, prevention and deterrence of money laundering and the financing of terrorist activities. FINTRAC's financial intelligence and compliance functions are a unique contribution to the safety of Canadians and the protection of the integrity of Canada's financial system.

FINTRAC acts at arm's length and is independent from the police services, law enforcement agencies and other entities to which it is authorized to disclose financial intelligence. It reports to the Minister of Finance, who is in turn accountable to Parliament for the activities of the Centre.

Mandate and role

FINTRAC was established by, and operates within the ambit of, the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and its Regulations. The Centre is one of several domestic partners in Canada’s anti-money laundering and anti-terrorist financing (AML/ATF) regime, which is led by the Department of Finance.

Responsibilities

FINTRAC fulfills its mandate by engaging in the following activities:

  • Receiving financial transaction reports and voluntary information in accordance with the legislation and regulations;
  • Safeguarding personal information under its control;
  • Ensuring compliance of reporting entities with the legislation and regulations;
  • Maintaining a registry of money services businesses in Canada;
  • Producing financial intelligence relevant to investigations of money laundering, terrorist activity financing and threats to the security of Canada;
  • Researching and analyzing data from a variety of information sources that shed light on trends and patterns in money laundering and terrorist activity financing; and
  • Enhancing public awareness and understanding of money laundering and terrorist activity financing.

In addition, FINTRAC is part of the Egmont Group, an international network of financial intelligence units that collaborate and exchange information to combat money laundering and terrorist activity financing. FINTRAC also contributes to other multilateral fora such as the Financial Action Task Force (FATF), the Asia-Pacific Group on Money Laundering (APG) and the Caribbean Financial Action Task Force (CFATF), participating in international policy making and the provision of technical assistance to other FIUs.

FINTRAC is headquartered in Ottawa, with regional offices located in Montréal, Toronto, and Vancouver.

Strategic Plan 2019–24

FINTRAC Strategic Plan 2019–24 (PDF version, 4 KB)

Director and Chief Executive Officer's message

Nada Semaan, Director and Chief Executive Officer

I am pleased to present FINTRAC's strategic plan for 2019–24. This dynamic plan is the product of our many discussions where we debated ideas, defined our collective ambitions, and ultimately set our collective commitments. Over the next five years, this plan will guide us as we strengthen our operational effectiveness and renew our dedication to being a trusted leader in financial intelligence.

We want to realize our vision – Safe Canadians, Secure Economy – through the power of working together and the richness of conversations. Three important strategic pillars will guide us for the next five years:

  • Promote a culture of accountability
  • Prepare FINTRAC for the future
  • Collaborate to strengthen results

Going forward, the plan will lead to the creation of a detailed and transparent annual operational plan and to the development of key strategies to guide our activities, including our international engagement, our communications, and our recruitment and talent management.

With this plan, we commit to ensuring alignment of annual operational plans and key strategies, and to having an engaging work environment that encourages excellence, innovation and continuous learning and development opportunities.

I am excited to lead FINTRAC as we build upon our achievements and construct enduring foundations for our future.

Thank you.

Nada Semaan
Director and Chief Executive Officer

About FINTRAC

As Canada's financial intelligence unit and anti-money laundering and anti-terrorist financing regulator, FINTRAC plays a critical role in helping to combat money laundering, terrorism financing and threats to the security of Canada.

The Centre produces actionable financial intelligence in support of the money laundering and terrorism financing investigations of Canada's police, law enforcement and national security agencies. FINTRAC also generates valuable strategic financial intelligence, including specialized research reports and trends analysis, for regime partners and policy decision-makers, businesses and international counterparts that shines a light on the nature, scope and threat posed by money laundering and terrorism financing.

The Centre is able to fulfill its financial intelligence mandate by working with Canadian businesses to ensure compliance with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act. Compliance with the Act helps to prevent and deter criminals from using Canada's legitimate economy to launder the proceeds of their crimes or to finance terrorist activities. It also ensures that the Centre receives the information that it needs to produce financial intelligence for Canada's police, law enforcement and national security agencies.

FINTRAC's financial intelligence is in high demand internationally, as is its specialized intelligence and supervisory knowledge and expertise. The Centre is regularly asked to lead international conferences and workshops and to contribute to global research projects, training and bilateral and multilateral capacity-building initiatives.

In fulfilling its core financial intelligence and compliance mandates, FINTRAC is committed to safeguarding the information that it receives and discloses to Canada's police, law enforcement and national security agencies. The Centre understands that the protection of privacy is critical to maintaining Canadians' confidence in FINTRAC and Canada's broader Anti-Money Laundering and Anti-Terrorist Financing Regime.

Strategic Plan Vision and Priorities

Vision

Safe Canadians, Secure Economy: Contributing to the safety of Canadians and the security of the economy, as a trusted leader in the global fight against money laundering and terrorist activity financing.

Priorities

Pillar 1: Promote a culture of accountability

A leader has high standards for their team and for themselves. Leaders always seek to be better and promote accountability.

FINTRAC is a place where we value a culture of accountability to each other, to ourselves, and to Canadians. We will maximize the potential of our people, not only by focusing on our current expertise and skills, but also by encouraging horizontal and agile ways of working, empowering innovative ideas and equipping them with the tools to foster success. Furthermore, we will focus on recruiting people with varied experience, skills and mindsets that embrace the principles of accountability, excellence, curiosity, innovation, and the desire to influence and inspire others by openly sharing their knowledge and expertise. Finally, we will renew our focus on results and performance to optimize our effectiveness and efficiency in the delivery of our mandate without compromising the values and ethics of our organization. In short, we will ensure that everything we do is driven by, reflects and enhances the Centre's priorities and core values.

Outcome

A resilient, agile workforce accountable for achieving the Centre's priorities within a culture that values diversity, collaboration, civility and ethical behaviour.

Priority 1: Maximize the potential of our people

  • Encourage a respectful, inclusive and performance-driven culture that is based on trust and promotes accountability, civility and ethical behaviour
  • Maintain a high-level of employee engagement that supports a culture of excellence
  • Attract, recruit, retain, and manage our talent effectively and strategically to ensure that our people have the technical and behavioural competencies, agility and mindset to position the Centre and its people for success in a constantly evolving landscape
  • Strengthen and leverage internal talent by promoting and facilitating horizontal and agile approaches to the way we work

Priority 2: Ensure transparency through results and performance

  • Strengthen our performance measurement framework and regularly report on results
  • Proactively engage with, and support various government oversight bodies
  • Enhance internal communications and encourage information sharing

Pillar 2: Prepare FINTRAC for the future

Leaders are at the forefront and are an example for others. Leaders are one step ahead and are prepared for the future.

The global financial sector is rapidly evolving, becoming increasingly transnational and technologically innovative. At the same time, the perpetrators of money laundering and terrorist activity financing are also becoming more sophisticated. In order to position ourselves as a trusted leader in the global fight against money laundering and terrorist activity financing, we must look to the future and prepare ourselves for the changes that lie ahead. We will do this by modernizing our workplace to ensure that we have a solid foundation upon which we can explore and implement innovative solutions.

Outcome

A work environment that supports innovation and provides the support and tools, especially information and data, to deepen our analysis and approaches.

Priority 3: Modernize the workplace

  • Implement a strategic, enterprise approach to managing our infrastructure, applications, and data
  • Implement tools and processes that will effectively enable collaboration, mobility and information sharing
  • Leverage our information technology and systems to enhance outcomes

Priority 4: Explore and implement innovative solutions

  • Foster a culture that enables innovative approaches to our business, which includes policy, technology, and processes
  • Strive for continuous growth and excellence, implement a centre-wide approach to learning and training at the Centre so as to support all areas of organizational learning including corporate training, leadership development, executive training and functional business line training
  • Leverage our knowledge and expertise to identify future trends and address possible challenges
  • Investigate opportunities for private sector engagement and partnerships

Pillar 3: Collaborate to strengthen results

Leaders listen. Leaders are transparent and work with others.

FINTRAC's financial intelligence supports Canada's broader policing, national security and foreign policy priorities, including in relation to the links between money laundering and criminal activity, and the resourcing of terrorist groups. In order to be a trusted leader in the global fight against money laundering and terrorist activity financing, it is critical that FINTRAC continues to strategically reach out to businesses, law enforcement, international and domestic stakeholders and academia to ensure regime-wide value. By identifying and cultivating purposeful relationships, we will maximize the value of our contribution and efforts. We will also constructively engage stakeholders to find better ways of doing business both externally, and cross-government.

Outcome

FINTRAC leverages the knowledge and expertise of our domestic and international partners to influence change in the way we detect and deter ML and TF activities.

Priority 5: Cultivate strategic relationships with key external stakeholders

  • Regularly identify, review, and prioritize FINTRAC's relationships with key business and international stakeholders to ensure their alignment with the Centre's compliance, intelligence, and corporate priorities, while remaining in line with FINTRAC's requirement to be independent and operate at arm's length from the police services, law enforcement agencies and other entities to which it is authorized to disclose financial intelligence
  • Play a leadership role in international fora to support the government's broader international efforts to combat money laundering and terrorist activity financing
  • Work with external stakeholders to discover new ways of doing business
  • Enhance transparency and demonstrate progress with external stakeholders

Priority 6: Strengthen cross-government cooperation

  • Proactively work with other Canadian government departments/agencies to increase our influence on government policy-making and decision-making on matters related to money laundering and terrorist activity financing
  • Work with central agencies in creating more efficient and effective interactions
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