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Frequently Asked Questions
Privacy and Protection of Information | | | FAQ > Privacy and Protection of Information > Question 1 |
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How will FINTRAC protect the personal information of private citizens?
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FINTRAC is subject to the Privacy Act which
strictly regulates how federal institutions can use and disclose personal
information collected about individuals. In addition, the Proceeds of Crime
(Money Laundering) and Terrorist Financing Act stipulates that one of the objects of FINTRAC is to
ensure that the personal information under its control is protected from
unauthorized disclosure. The Act also sets out that FINTRAC must deal with such
information on a strict 'need to know' basis and that information can only be
disclosed to police where there are reasonable grounds to suspect that the
information would be relevant to investigating or prosecuting a money laundering
offence or a terrorist activity financing offence. That information will also be
disclosed to CSIS when there are reasonable grounds to suspect that it is
relevant to threats to the security of Canada. Even in such circumstances, however, only 'designated
information' as defined in the Act and regulations can be disclosed.
Finally, the Act stipulates that FINTRAC employees and contractors are subject
to criminal penalties of up to 5 years in jail or a fine of $500,000 or both,
for unauthorized disclosure or use of information. |
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