

Currently released so far... 12553 / 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
2011/05/01
2011/05/02
2011/05/03
2011/05/04
2011/05/05
2011/05/06
2011/05/07
2011/05/08
2011/05/09
2011/05/10
2011/05/11
2011/05/12
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
APECO
ASEC
AMGT
AFIN
APER
ACABQ
AORC
AEMR
AF
AE
AR
AGMT
AU
AY
ABLD
AS
AG
AJ
APCS
AX
AM
AMEX
ATRN
ADM
AMED
AFGHANISTAN
AZ
AL
ASUP
AND
ARM
ASEAN
AFFAIRS
AQ
ATFN
AMBASSADOR
AODE
APEC
ACBAQ
AFSI
AFSN
AO
ABUD
AC
ADPM
ADCO
ASIG
ARF
AUC
ASEX
AGAO
AA
AER
AVERY
AGRICULTURE
AIT
AADP
ASCH
AORL
AROC
ACOA
ANET
AID
AMCHAMS
AINF
AMG
AFU
AN
ALOW
ASECKFRDCVISKIRFPHUMSMIGEG
ACS
ADANA
AECL
ACAO
AORG
AGR
BEXP
BR
BM
BG
BL
BA
BTIO
BO
BP
BC
BILAT
BK
BU
BD
BRUSSELS
BB
BF
BBSR
BIDEN
BX
BE
BH
BT
BY
BMGT
BWC
BTIU
BN
CA
CASC
CFED
CO
CH
CS
CU
CE
CI
CM
CMGT
CJAN
COM
CG
CIS
CVIS
CR
CKGR
CHR
CVR
COUNTER
CIA
CLINTON
CY
CPAS
CD
CBW
COUNTERTERRORISM
CITEL
CDG
CW
CODEL
COUNTRY
CLEARANCE
COE
CN
CARICOM
CB
CONDOLEEZZA
CWC
CACS
CSW
CIDA
CIC
CITT
CONS
CL
CACM
CDB
CDC
CAN
CF
CJUS
CTM
CBSA
CARSON
CT
CLMT
CBC
CEUDA
CV
COPUOS
CTR
CROS
CAPC
CAC
CNARC
CICTE
CBE
ECON
ETRD
EIND
ENRG
EC
ELAB
EAGR
EAID
EFIS
EFIN
EINV
EUN
EG
EPET
EAIR
EU
ELTN
EWWT
ECIN
ERD
EI
ETTC
EUR
EN
EZ
ETC
ENVI
EMIN
ET
ENVR
ER
ECPS
EINT
EAP
ES
ENIV
ECONOMY
EXTERNAL
EINN
EFTA
ECONOMIC
EPA
EXBS
ECA
ELN
ETRDEINVECINPGOVCS
ENGR
ECUN
ENGY
ECONOMICS
ELECTIONS
EIAR
EINDETRD
EREL
EUC
ECONEFIN
EURN
EDU
ETRDEINVTINTCS
ECIP
ENERG
EFIM
EAIDS
EK
ETRDECONWTOCS
EINVETC
ECONCS
EUNCH
ESA
ECINECONCS
EUREM
ESENV
EFINECONCS
ETRC
ENNP
EAIG
EXIM
EEPET
EINVECONSENVCSJA
EUMEM
ETRA
ERNG
ETRO
ETRN
EINVEFIN
ICTY
IN
IS
IR
IC
IZ
IA
INTERPOL
IAEA
IT
IMO
IO
IV
ID
IRAQI
IEA
INRB
IL
IWC
ITU
ICAO
ISRAELI
ICRC
IIP
IMF
IBRD
ISLAMISTS
ITALY
ITALIAN
ILO
IPR
IQ
IRS
IAHRC
IZPREL
IRAJ
IDP
ILC
ITF
ICJ
IF
ITPHUM
INMARSAT
ISRAEL
IACI
IBET
ITRA
INR
IRC
IDA
ICTR
IGAD
INRA
INRO
IEFIN
INTELSAT
INTERNAL
INDO
ITPGOV
KWMN
KSCA
KDEM
KTFN
KIPR
KCRM
KPAL
KE
KPAO
KPKO
KS
KN
KISL
KFRD
KJUS
KIRF
KFLO
KG
KTIP
KTER
KRCM
KTIA
KGHG
KIRC
KU
KPRP
KMCA
KMPI
KSEO
KNNP
KZ
KNEI
KCOR
KOMC
KCFC
KSTC
KMDR
KFLU
KSAF
KSEP
KSAC
KR
KGIC
KSUM
KWBG
KCIP
KDRG
KOLY
KAWC
KCHG
KHDP
KRVC
KBIO
KAWK
KGCC
KHLS
KBCT
KPLS
KREL
KCFE
KMFO
KV
KFRDKIRFCVISCMGTKOCIASECPHUMSMIGEG
KFTFN
KVPR
KTDB
KSPR
KIDE
KVRP
KTEX
KBTR
KTRD
KICC
KCOM
KO
KLIG
KDEMAF
KMRS
KRAD
KOCI
KSTH
KUNR
KNSD
KGIT
KFSC
KHIV
KPAI
KICA
KACT
KHUM
KREC
KSEC
KFRDCVISCMGTCASCKOCIASECPHUMSMIGEG
KCMR
KPIN
KESS
KDEV
KNAR
KNUC
KPWR
KENV
KWWMN
KWMNCS
KPRV
KOM
KBTS
KCRS
KNPP
KWNM
KRFD
KVIR
KTBT
KAID
KRIM
KDDG
KRGY
KHSA
KWMM
KMOC
KSCI
KPAK
KX
KPAONZ
KCGC
KID
KPOA
KIFR
KFIN
KWAC
KOMS
KCRCM
KNUP
KMIG
KNNPMNUC
KERG
KTLA
KCSY
KJUST
MOPS
MARR
MASS
MNUC
MX
MCAP
MO
MR
MI
MD
MK
MA
MP
MY
MTCRE
MOPPS
MASC
MIL
MTS
MLS
MILI
MAR
MU
MEPN
MAPP
MTCR
MEPI
MZ
MEETINGS
MG
MW
MAS
MT
MCC
MIK
ML
MARAD
MV
MERCOSUR
MTRE
MPOS
MEPP
MILITARY
MDC
MQADHAFI
MUCN
MRCRE
MAPS
MEDIA
MASSMNUC
MC
NZ
NZUS
NL
NU
NATO
NP
NO
NIPP
NE
NH
NR
NA
NPT
NI
NSF
NG
NSG
NAFTA
NC
NDP
NEW
NRR
NATIONAL
NT
NS
NASA
NAR
NV
NORAD
NSSP
NK
NPA
NGO
NSC
NATOPREL
NW
NPG
NSFO
OPDC
OTRA
OIIP
OREP
OVIP
OSCE
OEXC
OIE
OPRC
OAS
OPIC
OTR
OMIG
OSAC
OFFICIALS
OECD
OSCI
OBSP
OFDA
OPCW
ODIP
OFDP
OES
OPAD
OCII
OHUM
OVP
ON
OIC
OCS
PHUM
PREL
PGOV
PINR
PTER
PARM
PREF
PM
PE
PINS
PK
PHSA
PBTS
PRGOV
PA
PORG
PP
PS
PGOF
PL
PO
PARMS
PKFK
PSOE
PEPR
PAK
POL
PPA
PINT
PMAR
PRELP
PREFA
PALESTINIAN
PBIO
PINF
PNG
PMIL
PFOR
PUNE
PGOVLO
PAO
POLITICS
PHUMBA
PSEPC
PTBS
PCUL
PROP
PNAT
PNR
POLINT
PGOVE
PROG
PHALANAGE
PARTY
PDEM
PECON
PROV
PHUMPREL
PGOC
PY
PCI
PLN
PDOV
PREO
PGIV
PHUH
PAS
PU
POGOV
PF
PINL
POV
PAHO
PRL
PG
PRAM
POLITICAL
PARTIES
POLICY
PGOVSMIGKCRMKWMNPHUMCVISKFRDCA
PGGV
PHUS
PSA
PHUMPGOV
PEL
PSI
PAIGH
POSTS
PBT
PTERE
RS
RU
RW
RM
RO
RP
REGION
RSP
RF
RICE
RCMP
RFE
RIGHTS
RIGHTSPOLMIL
ROBERT
RUPREL
RELATIONS
ROOD
REACTION
RSO
REPORT
SENV
SNAR
SCUL
SR
SC
SOCI
SMIG
SI
SP
SU
SO
SW
SY
SA
SZ
SAN
SF
SN
STEINBERG
SG
ST
SIPDIS
SNARIZ
SNARN
SSA
SK
SPCVIS
SOFA
SAARC
SL
SEVN
SARS
SIPRS
SHUM
SANC
SWE
SHI
SYR
SNARCS
SPCE
SYRIA
SEN
SH
SCRS
SENVKGHG
TRGY
TSPL
TPHY
TSPA
TBIO
TI
TW
THPY
TX
TU
TS
TZ
TC
TH
TT
TIP
TO
TERRORISM
TRSY
TINT
TN
TURKEY
TBID
TL
TV
TNGD
TD
TF
TP
TFIN
TAGS
TK
TR
UNSC
UK
UNGA
UN
US
UNHRC
UG
UP
UNMIK
UNHCR
UE
USTR
UNVIE
UAE
UZ
UY
UNO
UNESCO
USEU
USOAS
UV
UNODC
UNCHS
UNFICYP
UNEP
UNIDROIT
UNDESCO
UNDP
UNPUOS
UNC
UNAUS
USUN
UNCHC
UNCHR
UNCND
UNICEF
UNCSD
UNDC
USNC
USPS
USAID
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