Frequently Asked Questions

General

1. What is money laundering?
2. What is the scale of the money laundering problem? How much money is laundered through Canada?

FINTRAC

1. What is FINTRAC?
2. I thought that FINTRAC's mandate was limited to detecting money laundering, what has changed?
3. Why is FINTRAC independent from law enforcement and CSIS?
4. Why has FINTRAC developed guidelines to accompany the Regulations? 
5. Are there any fees charged by FINTRAC?
6. Does FINTRAC freeze funds?
7. Does FINTRAC issue clearance certificates to prove that funds are not related to criminal or terrorist activity?

Privacy and Protection of Information

1. What will FINTRAC do with the reports?
2. How will FINTRAC protect the personal information of private citizens?
3. Can I give you information on someone that I think is involved in terrorism?

Reporting to FINTRAC and Other Obligations

1. How will persons and entities make reports to FINTRAC?
2. What is FINTRAC's approach to ensuring compliance?
3. What are the specific penalties associated with non-compliance?
4. As a legal counsel, what are my obligations? What has changed?
5. As an accountant, does this regulatory change affect my requirement to report to FINTRAC?
6. As a securities dealer, when opening an account for a client, what information am I allowed to request?