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Canada’s AML Data Sharing Rises While Annual STRs Fall
By Brian Monroe
printDisclosures by Canada's financial regulator of suspected money laundering and other crimes have more than tripled in recent years even as the number of suspicious transaction reports filed annually by banks has fallen. The Financial Transactions and Reports Analysis Centre of Canada (Fintrac) said Wednesday that the queries it answers for investigators have risen from 210 in fiscal year 2008 to 777 to fiscal year 2011 and this year. Separately, anti-money laundering (AML) enforcement actions were also handed down more frequently, with eight levied in fiscal year 2011 compared to seven during the previous two fiscal years. "The increase in...
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