What role does the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) play?

The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) serves as Canada's national financial intelligence agency. Its primary role is to detect and prevent money laundering and the financing of terrorist activities. It achieves this by analyzing financial transactions and reports received from various entities, including banks and other financial institutions.

By ensuring adherence to Anti-Money Laundering (AML) regulations, FINTRAC collects and analyzes information to identify potential suspicious activities that may require investigation. This helps to protect the integrity of Canada's financial system and contributes to national security. The agency does not engage in marketing, provide loans, or conduct audits of publicly traded companies, emphasizing its specific purpose focused on intelligence gathering and regulatory enforcement in financial transactions.