Ottawa, July 20, 2006

FINTRAC signs nine agreements to share financial intelligence on money laundering and terrorist financing with international counterpart agencies

OTTAWA - July 20, 2006 - The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) has entered into agreements with its counterpart agencies in Chile, Germany, Guatemala, Hong Kong, Japan, Luxembourg, Mauritius, Peru and St. Vincent & the Grenadines. These Memoranda of Understanding (MOU) set out terms for the sharing of financial intelligence on suspected money laundering and terrorist activity financing and the protection of personal information.

The nine agreements were concluded at the XIV Egmont Group Plenary meeting in Limassol, Cyprus, on June 16, 2006. FINTRAC now has agreements with counterpart agencies in 39 jurisdictions around the world. Each MOU was entered into under the authority of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act.

Money laundering and terrorist financing can extend beyond national borders. Detecting and deterring these criminal activities requires cooperation on the part of many jurisdictions. These newly signed Memoranda of Understanding will foster the exchange of financial intelligence and will enhance the information available to Canadian law enforcement and intelligence agencies.

FINTRAC is an independent federal government agency, created in 2000, with a mandate to collect, analyze, assess and, where appropriate, disclose financial intelligence in order to assist in the detection, prevention and deterrence of money laundering and the financing of terrorist activities.

The Egmont Group is an international group of financial intelligence units founded in 1995, which work together to provide a forum to improve support for their respective anti-money laundering and anti-terrorist financing programs.

Media Inquiries:

Peter Lamey
Financial Transactions and Reports Analysis Centre of Canada
(613) 943-3399