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Canada: FINTRAC 2018-2019 Annual Report tabled in Parliament

The Financial Transactions and Reports Analysis Centre of Canada ('FINTRAC') announced, on 11 March 2020, that its 2018-2019 Annual Report ('the Report') had been tabled in the Parliament of Canada. In particular, the Report outlines, among other things, key highlights in enforcement actions taken, compliance statistics with frameworks and legislation, as well as the safeguarding of personal information in accordance with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act 2000. In this respect, the Report notes that the safeguarding of personal information is critical to FINTRAC, and clear principles for the protection of privacy are set out in its governing legislation, including strict limitations on the information that can be received and disclosed, as well as clear requirements for the maintence and disposal of records.

You can read the press release here and the Report here.