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This section outlines the results achieved by FINTRAC's program activity Collection, Analysis and Dissemination of Financial Information. The program activity supports the achievement of the Centre's Priorities and Strategic Outcome.
Financial intelligence that contributes to the detection and deterrence of money laundering and terrorist activity financing in Canada and abroad.
Planned Spending | Authorities | Actual Spending* |
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$55.4 | $52.8 | $51.1 |
Planned | Actual | Difference |
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271 FTEs | 319 FTEs | 48 FTEs |
* Resource figures for FINTRAC's program activity Collection, Analysis and Dissemination of Financial Information include all associated corporate support costs.
Program Activity: Collection, Analysis and Dissemination of Financial Information |
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Performance Measure: High quality case disclosures are produced and disseminated on a timely basis |
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Performance Indicators | Results Achieved |
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Number of case disclosures |
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Feedback from disclosure recipients |
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Performance Measure: Strategic information on money laundering and terrorist financing is disseminated to partners, stakeholders and the general public |
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Performance Indicators | Results Achieved |
Number of products offered Feedback received on products disseminated |
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Performance Measure: High levels of compliance are attained by reporting entities in meeting their legislative obligations |
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Performance Indicators | Results Achieved |
Percentage of reports filed within the legislated timeframe |
Over 21,626,000 reports were filed with FINTRAC in 2007-2008. Of these reports, over 91 per cent were filed within the legislated timeframe. FINTRAC's new tools allowed for reports to be validated for quality upon filing. In 2007-2008, the number of reports that were returned to their originator for further action increased by 21 per cent. |
Number of compliance examinations performed |
In 2007-2008, FINTRAC's compliance unit performed 277 examinations of reporting entities in all sectors. 257 additional compliance examinations were conducted by regulators under their MOU with FINTRAC. |
Number of non-compliance disclosures |
In fiscal 2007-2008, FINTRAC determined in five cases that there were sufficient grounds to make a disclosure to law enforcement about an entity not respecting its obligations in reporting, as set out in the PCMLTFA and associated regulations. Since 2004-05, twelve such cases have been disclosed by FINTRAC to law enforcement for investigation and prosecution. |
Number of outreach sessions delivered to reporting entities |
FINTRAC delivered over 370 presentations, meetings and seminars with reporting entities, associations and regulators, reaching over 18,335 people.
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Performance Measure: Strong and mutually beneficial domestic and international relationships in support of strengthening detection and deterrence of money laundering and terrorist activity financing in Canada and abroad. |
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Performance Indicators | Results Achieved |
Extent and impact of FINTRAC's involvement in key national and international forums | FINTRAC continues its successful involvement in initiatives such as the Public Security and Anti-Terrorism Initiative, the Anti-Money Laundering and Anti-Terrorist Financing Regime, the National Coordinating Committee on Organized Crime, the National Integrated Interagency Information System and with other stakeholders and regulatory groups. |
Extent and impact of FINTRAC's involvement in key international forums such as EGMONT Group and the Financial Action Task Force (FATF) |
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