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ARCHIVED - Financial Transactions and Reports Analysis Centre of Canada - Supplementary Tables
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Sources of Non-Respendable Revenue
|
Program Activity |
Forecast Revenue |
Planned Revenue |
Planned Revenue |
Planned Revenue |
|---|---|---|---|---|
|
Detection and Deterrence of Money Laundering and Terrorist Financing |
||||
|
Administrative Monetary |
0.2 |
NA |
NA |
NA |
|
Total Non-Respendable Revenue |
0.2 |
NA |
NA |
NA |
FINTRAC has the legislative authority to issue Administrative Monetary Penalties (AMPs) to reporting entities that are in non-compliance with Canada's Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA). This program is a source of non-refundable revenue.
The purpose of the AMPs program is to encourage compliance with the PCMLTFA, rather than to punish non-compliance. As such, FINTRAC does not plan on issuing a specific number or value of AMPs per year and is unable to forecast the level of future non-respendable revenue derived from the issuance of AMPs.
Further information on penalties that may result from non-compliance with Part 1 of the PCMLTFA including AMPs may be found at http://www.fintrac-canafe.gc.ca/pen/1-eng.asp.
