The federal government’s newly created Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) received 3,747 suspicious transaction reports involving more than 11,000 financial transactions in its first five months of operation.

FINTRAC, which became operational on Oct. 28, 2001, has a mandate to detect and deter money laundering and terrorist financing in Canada while ensuring the protection of the personal information it possesses.

The information on the number of suspicious transaction reports is contained in FINTRAC’s first annual report, which the Honourable Maurizio Bevilacqua, Secretary of State (International Financial Institutions), tabled today in the House of Commons on behalf of the Honourable John Manley, Deputy Prime Minister and Minister of Finance.

The report covers the period from July 2000, when FINTRAC was created by legislation, until Mar. 31, 2002.

FINTRAC is the newest member of a larger federal initiative to combat money laundering and terrorist financing involving the Department of Finance Canada, the Royal Canadian Mounted Police, the Canadian Security Intelligence Service, the Canada Customs and Revenue Agency, Citizenship and Immigration Canada, the Department of Foreign Affairs and International Trade, Justice Canada, the department of Solicitor General Canada, and the Communications Security Establishment.

Since March 31, 2002, FINTRAC has received some 8,000 additional suspicious transaction reports.

A complete copy of the FINTRAC Annual Report is available from www.fintrac.gc.ca.