

Currently released so far... 12478 / 251,287
Browse latest releases
2010/12/01
2010/12/02
2010/12/03
2010/12/04
2010/12/05
2010/12/06
2010/12/07
2010/12/08
2010/12/09
2010/12/10
2010/12/11
2010/12/12
2010/12/13
2010/12/14
2010/12/15
2010/12/16
2010/12/17
2010/12/18
2010/12/19
2010/12/20
2010/12/21
2010/12/22
2010/12/23
2010/12/24
2010/12/25
2010/12/26
2010/12/27
2010/12/28
2010/12/29
2010/12/30
2011/01/01
2011/01/02
2011/01/04
2011/01/05
2011/01/07
2011/01/09
2011/01/10
2011/01/11
2011/01/12
2011/01/13
2011/01/14
2011/01/15
2011/01/16
2011/01/17
2011/01/18
2011/01/19
2011/01/20
2011/01/21
2011/01/22
2011/01/23
2011/01/24
2011/01/25
2011/01/26
2011/01/27
2011/01/28
2011/01/29
2011/01/30
2011/01/31
2011/02/01
2011/02/02
2011/02/03
2011/02/04
2011/02/05
2011/02/06
2011/02/07
2011/02/08
2011/02/09
2011/02/10
2011/02/11
2011/02/12
2011/02/13
2011/02/14
2011/02/15
2011/02/16
2011/02/17
2011/02/18
2011/02/19
2011/02/20
2011/02/21
2011/02/22
2011/02/23
2011/02/24
2011/02/25
2011/02/26
2011/02/27
2011/02/28
2011/03/01
2011/03/02
2011/03/03
2011/03/04
2011/03/05
2011/03/06
2011/03/07
2011/03/08
2011/03/09
2011/03/10
2011/03/11
2011/03/13
2011/03/14
2011/03/15
2011/03/16
2011/03/17
2011/03/18
2011/03/19
2011/03/20
2011/03/21
2011/03/22
2011/03/23
2011/03/24
2011/03/25
2011/03/26
2011/03/27
2011/03/28
2011/03/29
2011/03/30
2011/03/31
2011/04/01
2011/04/02
2011/04/03
2011/04/04
2011/04/05
2011/04/06
2011/04/07
2011/04/08
2011/04/09
2011/04/10
2011/04/11
2011/04/12
2011/04/13
2011/04/14
2011/04/15
2011/04/16
2011/04/17
2011/04/18
2011/04/19
2011/04/20
2011/04/21
2011/04/22
2011/04/23
2011/04/24
2011/04/25
2011/04/26
2011/04/27
2011/04/28
2011/04/29
2011/04/30
Browse by creation date
Browse by origin
Embassy Athens
Embassy Asuncion
Embassy Astana
Embassy Asmara
Embassy Ashgabat
Embassy Apia
Embassy Ankara
Embassy Amman
Embassy Algiers
Embassy Addis Ababa
Embassy Accra
Embassy Abuja
Embassy Abu Dhabi
Embassy Abidjan
Consulate Auckland
Consulate Amsterdam
Consulate Adana
American Institute Taiwan, Taipei
Embassy Bujumbura
Embassy Buenos Aires
Embassy Budapest
Embassy Bucharest
Embassy Brussels
Embassy Bridgetown
Embassy Bratislava
Embassy Brasilia
Embassy Bogota
Embassy Bishkek
Embassy Bern
Embassy Berlin
Embassy Belmopan
Embassy Belgrade
Embassy Beirut
Embassy Beijing
Embassy Banjul
Embassy Bangkok
Embassy Bandar Seri Begawan
Embassy Bamako
Embassy Baku
Embassy Baghdad
Consulate Barcelona
Embassy Copenhagen
Embassy Conakry
Embassy Colombo
Embassy Chisinau
Embassy Caracas
Embassy Canberra
Embassy Cairo
Consulate Curacao
Consulate Ciudad Juarez
Consulate Chennai
Consulate Casablanca
Consulate Cape Town
Consulate Calgary
Embassy Dushanbe
Embassy Dublin
Embassy Doha
Embassy Djibouti
Embassy Dili
Embassy Dhaka
Embassy Dar Es Salaam
Embassy Damascus
Embassy Dakar
Consulate Dubai
Embassy Helsinki
Embassy Harare
Embassy Hanoi
Consulate Ho Chi Minh City
Consulate Hermosillo
Consulate Hamilton
Consulate Hamburg
Consulate Halifax
Embassy Kyiv
Embassy Kuwait
Embassy Kuala Lumpur
Embassy Kinshasa
Embassy Kingston
Embassy Kigali
Embassy Khartoum
Embassy Kathmandu
Embassy Kampala
Embassy Kabul
Consulate Kolkata
Embassy Luxembourg
Embassy Luanda
Embassy London
Embassy Ljubljana
Embassy Lisbon
Embassy Lima
Embassy Lilongwe
Embassy La Paz
Consulate Lahore
Consulate Lagos
Mission USOSCE
Mission USNATO
Mission UNESCO
Embassy Muscat
Embassy Moscow
Embassy Montevideo
Embassy Monrovia
Embassy Minsk
Embassy Mexico
Embassy Mbabane
Embassy Maputo
Embassy Manila
Embassy Manama
Embassy Managua
Embassy Malabo
Embassy Madrid
Consulate Munich
Consulate Mumbai
Consulate Montreal
Consulate Monterrey
Consulate Milan
Consulate Melbourne
Embassy Nicosia
Embassy Niamey
Embassy New Delhi
Embassy Ndjamena
Embassy Nassau
Embassy Nairobi
Consulate Naples
Consulate Naha
Embassy Pristina
Embassy Pretoria
Embassy Prague
Embassy Port Of Spain
Embassy Port Louis
Embassy Port Au Prince
Embassy Phnom Penh
Embassy Paris
Embassy Paramaribo
Embassy Panama
Consulate Peshawar
REO Basrah
Embassy Rome
Embassy Riyadh
Embassy Riga
Embassy Reykjavik
Embassy Rangoon
Embassy Rabat
Consulate Rio De Janeiro
Consulate Recife
Secretary of State
Embassy Suva
Embassy Stockholm
Embassy Sofia
Embassy Skopje
Embassy Singapore
Embassy Seoul
Embassy Sarajevo
Embassy Santo Domingo
Embassy Santiago
Embassy Sanaa
Embassy San Salvador
Embassy San Jose
Consulate Strasbourg
Consulate St Petersburg
Consulate Shenyang
Consulate Shanghai
Consulate Sapporo
Consulate Sao Paulo
Embassy Tunis
Embassy Tripoli
Embassy Tokyo
Embassy The Hague
Embassy Tel Aviv
Embassy Tehran
Embassy Tegucigalpa
Embassy Tbilisi
Embassy Tashkent
Embassy Tallinn
Consulate Toronto
Consulate Tijuana
USUN New York
USEU Brussels
US Office Almaty
US Mission Geneva
US Interests Section Havana
US Delegation, Secretary
UNVIE
Embassy Ulaanbaatar
Embassy Vilnius
Embassy Vienna
Embassy Vatican
Embassy Valletta
Consulate Vladivostok
Consulate Vancouver
Browse by tag
AU
ASEC
AE
AF
AORC
AEMR
AMGT
ABUD
AFFAIRS
APER
AS
AMED
AY
AG
AR
AJ
AL
AID
AM
AODE
ABLD
AMG
AFIN
ATRN
AGAO
AFU
AN
AA
ALOW
APECO
ADM
ARF
ASEAN
APEC
AMBASSADOR
AO
ASUP
AZ
AADP
ACOA
ANET
AMCHAMS
ACABQ
ASECKFRDCVISKIRFPHUMSMIGEG
APCS
AGMT
AINF
AIT
AORL
ACS
AFSI
AFSN
ACBAQ
AFGHANISTAN
ADANA
ADPM
AX
ADCO
AECL
AMEX
ACAO
ASCH
AORG
AGR
AROC
ASIG
AND
ARM
AQ
ATFN
AC
AUC
ASEX
AER
AVERY
AGRICULTURE
BL
BR
BO
BA
BD
BM
BK
BG
BU
BB
BH
BTIO
BY
BEXP
BP
BE
BRUSSELS
BF
BIDEN
BT
BX
BC
BILAT
BN
BBSR
BTIU
BWC
BMGT
CA
CASC
CVIS
CM
CH
CO
CU
CD
CWC
CI
CS
CY
CMGT
CF
CG
CR
CB
CV
CW
CE
CBW
CT
CPAS
COUNTERTERRORISM
CJAN
CODEL
CIDA
CDG
CDC
CIA
CTR
CNARC
CSW
CN
CONS
CLINTON
COE
CROS
CARICOM
CONDOLEEZZA
COUNTER
CL
COM
CICTE
CIS
CFED
COUNTRY
CJUS
CBSA
CEUDA
CLMT
CAC
COPUOS
CIC
CBE
CHR
CTM
CVR
CITEL
CLEARANCE
CACS
CAN
CITT
CARSON
CACM
CDB
CAPC
CKGR
CBC
EC
EG
EPET
ECON
ETRD
EFIN
EIND
EMIN
ENRG
EAID
EAGR
EUN
ETTC
EAIR
ENIV
ES
EU
EINV
ELAB
ECIN
EFIS
ELTN
EWWT
ECPS
ECONOMIC
ENGR
EN
EINT
EPA
ELN
ESA
EZ
ER
ET
EFTA
EINVECONSENVCSJA
EUMEM
ETRA
EXTERNAL
EI
EUR
EK
ERNG
ENGY
ETRDEINVECINPGOVCS
ENERG
EINVEFIN
ENVR
ECA
ELECTIONS
ETC
EUREM
ENNP
EFINECONCS
EURN
ECINECONCS
EEPET
EXIM
ERD
ENVI
ETRC
ETRDEINVTINTCS
ETRO
EDU
ETRN
EAIG
ECONCS
ECONOMICS
EAP
ECONOMY
EINN
EIAR
EXBS
ECUN
EINDETRD
EREL
EUC
ESENV
ECONEFIN
ECIP
EFIM
EAIDS
ETRDECONWTOCS
EUNCH
EINVETC
IZ
IT
IR
IS
IN
IC
IAEA
IO
ICAO
IWC
ID
IV
ISRAEL
IAHRC
IQ
ICTR
IMF
IRS
IDP
IGAD
ICRC
ICTY
IMO
IL
INRA
INRO
ICJ
ITU
IBRD
INMARSAT
IIP
ITALY
IEFIN
IACI
ILO
INTELSAT
ILC
ITRA
IDA
INRB
IRC
INTERPOL
IA
IPR
IRAQI
ISRAELI
INTERNAL
ISLAMISTS
INDO
ITPHUM
ITPGOV
ITALIAN
IBET
INR
IEA
IZPREL
IRAJ
ITF
IF
KDEM
KU
KPAL
KNNP
KCRM
KZ
KN
KS
KJUS
KTFN
KSCA
KV
KISL
KPAO
KPKO
KIRF
KTIA
KIPR
KFLO
KFRD
KTIP
KAWC
KSUM
KCOM
KAID
KE
KTDB
KMDR
KOMC
KWBG
KDRG
KVPR
KTEX
KGIC
KWMN
KSCI
KCOR
KACT
KDDG
KHLS
KSAF
KFLU
KSEO
KMRS
KSPR
KOLY
KSEP
KVIR
KGHG
KIRC
KUNR
KIFR
KCIP
KMCA
KMPI
KBCT
KHSA
KICC
KIDE
KCRS
KMFO
KRVC
KRGY
KR
KAWK
KG
KFIN
KHIV
KBIO
KOCI
KBTR
KNEI
KPOA
KCFE
KPLS
KSTC
KHDP
KPRP
KCRCM
KLIG
KCFC
KTER
KREC
KTBT
KPRV
KSTH
KRIM
KRAD
KWAC
KWMM
KFRDCVISCMGTCASCKOCIASECPHUMSMIGEG
KOMS
KX
KMIG
KRCM
KVRP
KBTS
KPAONZ
KNUC
KNAR
KPWR
KNPP
KDEMAF
KNUP
KNNPMNUC
KERG
KGIT
KPAI
KTLA
KFSC
KCSY
KSAC
KTRD
KID
KOM
KMOC
KJUST
KGCC
KREL
KFRDKIRFCVISCMGTKOCIASECPHUMSMIGEG
KFTFN
KO
KNSD
KHUM
KSEC
KCMR
KCHG
KICA
KPIN
KESS
KDEV
KCGC
KWWMN
KPAK
KWNM
KWMNCS
KRFD
MOPS
MCAP
MPOS
MARR
MO
MNUC
MX
MASS
MG
MY
MU
ML
MR
MILITARY
MTCRE
MT
MEPP
MA
MDC
MP
MAR
MASSMNUC
MARAD
MAPP
MZ
MD
MI
MEETINGS
MK
MCC
MEPN
MRCRE
MAS
MIL
MASC
MC
MV
MTCR
MIK
MUCN
MEDIA
MERCOSUR
MW
MOPPS
MTS
MLS
MILI
MTRE
MEPI
MQADHAFI
MAPS
NO
NATO
NL
NP
NZ
NSF
NI
NH
NG
NAFTA
NU
NASA
NR
NATOPREL
NSSP
NSG
NA
NT
NW
NK
NPT
NPA
NATIONAL
NPG
NSFO
NS
NSC
NE
NGO
NDP
NIPP
NRR
NEW
NZUS
NC
NAR
NV
NORAD
OTRA
OPCW
OVIP
OAS
OREP
OPIC
OIIP
OPRC
ODIP
OEXC
OPDC
OSCE
OIC
OSCI
OECD
OFDP
OFDA
OMIG
OPAD
OFFICIALS
OVP
OIE
OHUM
OCS
OBSP
OTR
OSAC
ON
OCII
OES
PGOV
PREL
PHUM
PTER
PINS
PINR
PREF
PK
PROP
PA
PARM
PBTS
PMAR
PM
PGIV
PE
PRAM
PHUH
PHSA
PL
PNAT
PO
PLN
PAO
PSA
PHUMPGOV
PF
PEL
PBIO
POLITICS
PHUMBA
PAS
POL
PREO
PAHO
PMIL
POGOV
POV
PAK
PNR
PRL
PG
PREFA
PSI
PINL
PU
PARMS
PRGOV
PALESTINIAN
PAIGH
POLITICAL
PARTIES
POSTS
PROG
PORG
PTBS
PUNE
POLICY
PDOV
PCI
PGOVSMIGKCRMKWMNPHUMCVISKFRDCA
PBT
PP
PS
PY
PTERE
PGOF
PKFK
PSOE
PEPR
PPA
PINT
PRELP
PSEPC
PGOVE
PINF
PNG
PGOC
PFOR
PCUL
POLINT
PGGV
PHALANAGE
PARTY
PGOVLO
PHUS
PDEM
PECON
PROV
PHUMPREL
RS
RU
RELATIONS
RW
RO
RM
RP
ROOD
RICE
RUPREL
RSO
RCMP
REACTION
REPORT
REGION
RIGHTS
RF
RFE
RSP
RIGHTSPOLMIL
ROBERT
SU
SCUL
SNAR
SOCI
SF
SA
SHUM
SENV
SP
SR
SY
SANC
SC
SMIG
SZ
SARS
SW
SEVN
SO
SEN
SL
SNARCS
SNARN
SI
SG
SN
SH
SYR
SAARC
SPCE
SHI
SCRS
SENVKGHG
SYRIA
SWE
STEINBERG
SIPRS
ST
SNARIZ
SSA
SK
SPCVIS
SOFA
SIPDIS
SAN
TC
TI
TBIO
TH
TSPL
TRGY
TSPA
TPHY
TU
TW
TS
TAGS
TK
TX
TNGD
TZ
TF
TL
TV
TN
TD
TIP
TR
TP
TO
TT
TFIN
THPY
TERRORISM
TINT
TRSY
TURKEY
TBID
US
UK
UNGA
UP
UZ
UNMIK
USTR
UNO
UNSC
UN
UNESCO
UNAUS
UNHRC
UY
UG
UNHCR
UNCND
USOAS
USEU
UNICEF
UNEP
UV
UNPUOS
UNCSD
USUN
UNCHR
UNDC
USNC
UE
UNDP
UNC
USPS
USAID
UNVIE
UAE
UNFICYP
UNODC
UNCHS
UNIDROIT
UNDESCO
UNCHC
Browse by classification
Community resources
courage is contagious
Viewing cable 06OTTAWA3302, CANADA SEEKS TO AMEND MONEY LAUNDERING,
If you are new to these pages, please read an introduction on the structure of a cable as well as how to discuss them with others. See also the FAQs
Understanding cables
Every cable message consists of three parts:
- The top box shows each cables unique reference number, when and by whom it originally was sent, and what its initial classification was.
- The middle box contains the header information that is associated with the cable. It includes information about the receiver(s) as well as a general subject.
- The bottom box presents the body of the cable. The opening can contain a more specific subject, references to other cables (browse by origin to find them) or additional comment. This is followed by the main contents of the cable: a summary, a collection of specific topics and a comment section.
Discussing cables
If you find meaningful or important information in a cable, please link directly to its unique reference number. Linking to a specific paragraph in the body of a cable is also possible by copying the appropriate link (to be found at theparagraph symbol). Please mark messages for social networking services like Twitter with the hash tags #cablegate and a hash containing the reference ID e.g. #06OTTAWA3302.
Reference ID | Created | Released | Classification | Origin |
---|---|---|---|---|
06OTTAWA3302 | 2006-11-02 15:31 | 2011-04-28 00:00 | UNCLASSIFIED | Embassy Ottawa |
VZCZCXRO7698
PP RUEHGA RUEHHA RUEHQU RUEHVC
DE RUEHOT #3302/01 3061531
ZNR UUUUU ZZH
P 021531Z NOV 06
FM AMEMBASSY OTTAWA
TO RUEHC/SECSTATE WASHDC PRIORITY 4319
INFO RUCNCAN/ALL CANADIAN POSTS COLLECTIVE
RUEATRS/DEPT OF TREASURY WASH DC
UNCLAS SECTION 01 OF 03 OTTAWA 003302
SIPDIS
SIPDIS
DEPARTMENT FOR WHA/CAN, S/CT, EB/ESC - LYNNE LAMBERT, L/EB
- TOM HEINEMANN AND IO/ESC - JOHN SANDAGE
E.O. 12958: N/A
TAGS: ECON EFIN PTER CA
SUBJECT: CANADA SEEKS TO AMEND MONEY LAUNDERING,
ANTI-TERRORISM FINANCING LEGISLATION; UNDERTAKES OTHER
INITIATIVES
¶1. (U) Summary: The Harper Government has introduced a bill
(C-25) in Parliament to amend the Proceeds of Crime (Money
Laundering) and Terrorist Financing Act to ensure Canada's
global leadership in combating organized crime and terrorist
financing. In his introduction of the bill on October 5,
Finance Minister Flaherty said that "Canada's New Government
will continue to be relentless in its battle against money
laundering and terrorism financing," adding that "One of the
best ways of putting these criminals out of business is to
starve them of the funds they need to finance their
activities. Our proposed amendments will improve our ability
to act decisively." C-25 will make Canada's anti-money
laundering and anti-terrorist financing regime consistent
with new Financial Action Task Force (FATF) standards. They
include enhancing information sharing between the Financial
Transactions and Reports Analysis Centre of Canada (FINTRAC),
law enforcement and other domestic and international
agencies; creating a registration regime for money service
businesses; enabling legislation for enhanced client
identification measures; and creating an administrative and
monetary penalties regime to better enforce compliance with
the act. C-25 was debated in the House of Commons last week
and the Standing Committee on Finance held hearings on
October 31. Minister Flaherty expects the legislation to
pass Parliament by the end of the year. End summary.
¶2. (U) Since criminals constantly change their tactics and
find new ways to evade the law, Canada's anti-money
laundering and anti-terrorist financing regime must stay
up-to-date. The amendments to the 2001 Proceeds of Crime
(Money Laundering) and Terrorist Financing Act (PCMTFA)
contained in C-25 are designed to ensure Canada's regime
remains consistent with revised international standards while
addressing areas of domestic risk. The new legislation will
provide appropriate tools to law enforcement and meet
international standards, while respecting the personal
privacy of Canadians and minimizing the compliance burden on
financial intermediaries. C-25 proposes to enhance the
provisions of the PCMLTFA by strengthening "know your client"
standards; closing gaps in the regime; increasing compliance,
monitoring and enforcement; and strengthening FINTRAC's
intelligence function.
¶3. (U) In preparation for the legislation, the Department of
Finance issued a consultation paper entitled Enhancing
Canada's Anti-Money Laundering and Anti-Terrorist Financing
Regime in June 2005. Over 50 submissions from stakeholders
were received, followed by further face-to-face
consultations. As a result, C-25 addresses industry concerns
and minimizes the compliance burden by tailoring, where at
all possible, proposed new requirements to existing business
practices. The legislation also serves to meet Canada's
international commitments to combat money laundering and
terrorist financing while ensuring that its domestic regime
remains robust and up-to-date.
Description of C-25
-------------------
¶4. (U) The key provisions of C-25 are:
a) Enhanced client identification and record-keeping for
financial institutions and intermedaries
The amendments include requirements for reporting entities to
undertake enhanced monitoring of high-risk situations,
correspondent banking relationships and transactions by
politically exposed persons. Banks, insurance companies,
Qpolitically exposed persons. Banks, insurance companies,
securities dealers and money service businesses would be
required to take measures to identify and monitor the
transactions of foreign nationals and their immediate family
who hold prominent public positions.
b) Reporting attempted suspicious transactions
All reporting entities currently reporting suspicious
transactions would be required to report suspicious attempted
transactions to FINTRAC, in line with the practice in other
G7 countries and consistent with FATF Recommendations.
c) Registration regime for money service businesses (MSBs)
and foreign exchange dealers
The amendments would create a federal registration system for
individuals and entities engaged in money service businesses
or foreign exchange. FINTRAC would act as registrar and
would maintain a public list of registered MSBs and foreign
OTTAWA 00003302 002 OF 003
exchange dealers. These businesses are already covered by
the PCMLTFA; however, given that this is an unregulated
sector, the registry will assist FINTRAC in ensuring
compliance with the Act.
d) Enhancing the information contained in FINTRAC disclosures
As recommended in the 2004 Auditor General's Report and at
the behest of law enforcement, the amendments enhance the
information FINTRAC can disclose to law enforcement and
security agencies on suspicions of money laundering or
terrorist financing. This will increase the value of FINTRAC
disclosures, ultimately leading to more investigations and
eventual prosecutions.
e) Creating an administrative and monetary penalties regime
Currently the Act only allows for serious criminal penalties
if it is contravened. FINTRAC requires the ability to levy
fines to deal with lesser contraventions in order to take a
more balanced and gradual approach to compliance. The
amendments will create an administrative and monetary
penalties system, whereby fines can be applied for
non-compliance.
f) Reintroducing requirements for legal counsel
The GOC is working with the legal profession, including
notaries in Quebec, to finalize requirements for client
identification, record-keeping and internal compliance
procedures for legal counsel when they act as financial
intermediaries.
The new bill removes the obligation for legal counsel to file
suspicious transaction reports or other prescribed
transaction reports.
g) Expanding information sharing between federal departments
and agencies
Amendments would expand FINTRAC's ability to share
information with the Canada Border Services Agency (CBSA),
the Canada Revenue Agency and the Communications Security
Establishment. In addition, FINTRAC will now be able to
receive terrorist property reports under United Nations Act
regulations.
Internationally, the enforcement of the anti-money laundering
and anti-terrorist financing requirements would be
strengthened by information-sharing provisions on
compliance-related information between FINTRAC and its
foreign counterparts on obligations applicable to the
financial sector, and between the CBSA and its foreign
counterparts on the enforcement of the cross-border currency
reporting regime.
h) Technical Amendments to improve the Act
A number of technical amendments would improve the Act by
addressing inconsistencies between the French and the English
versions and ensuring consistency between the PCMLTFA and
related provisions in other acts, and to clarify existing
provisions and correct section references. These amendments
will help make the Act easier to read and interpret.
Other GOC Initiatives
---------------------
¶5. (U) In addition to the proposed legislation, the Harper
Government has undertaken other initiatives to bolster its
efforts to combat money laundering and terrorist financing.
In its first budget in May, the Harper Government announced
C$64 million in additional funding over the next two years
for FINTRAC, the RCMP and the Department of Justice. The
funding would:
-- increase the number of RCMP officers working in the
anti-terrorist financing and anti-money laundering units;
-- increase the capabilities of the Canada Border Services
Agency (CBSA) to detect unreported currency at airports and
border crossings;
-- enable Canada's Justice Department to handle the expanding
legal workload that will result from increasing the
Qlegal workload that will result from increasing the
enforcement resources of other government agencies;
-- ensure that FINTRAC can better analyze transactions
reports and monitor the compliance of the unregulated
financial sectors such as money remitters.
OTTAWA 00003302 003 OF 003
¶6. (U) Canada is setting up its involvement in regional
bodies such as the Asia/Pacific Group on Money Laundering and
the Caribbean Financial Action Task Force. Increased GOC
funding will help the Eastern Caribbean Central Bank improve
its money laundering and terrorist financing system, and to
provide on-the-ground training to improve the effectiveness
of regulation throughout the Caribbean and Asia/Pacific
Regions. Canada will also contribute resources to help the
Asia/Pacific Group in the delivery of technical assistance
and training within that region.
¶7. (U) In July, Minister Flaherty announced that Toronto has
been selected as the permanent headquarters of the
secretariat of the Egmont Group, an organization of the
SIPDIS
world's financial intelligence units, including FINTRAC. The
Harper Government will contribute C$5 million over the next
five years to help the secretariat get established. For the
first time ever, Canada has assumed the FATF Presidency, the
international body that develops and promotes policies to
combat money laundering and terrorist financing.
Visit Canada's Classified Web Site at
http://www.state.sgov.gov/p/wha/ottawa
WILKINS