FINTRAC’s Referrals to Police for Suspicious Transactions Hit Record in 2025
https://www.theepochtimes.com/world/fintracs-referrals-to-police-for-suspicious-transactions-hit-record-in-2025-post-5937394?ea_src=ca-frontpage&ea_med=fintrac%E2%80%99s-referrals-to-police-for-suspicious-transactions-hit-record-in-2025-0
Canada’s financial intelligence agency says it sent a record number of cases to police for investigation in the 2025 fiscal year, in addition to issuing the largest number of violation notices in its history.
The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) said in its 2024-25 annual report that it generated over 6,200 financial intelligence reports based on more than 2,700 unique disclosures, which it said supported law enforcement and national security investigations into money laundering, terrorist financing, sanctions evasion, and threats to Canada’s security.
“This is by far the largest number of disclosures that FINTRAC has generated in a single year,” FINTRAC’s Director and CEO Sarah Paquet wrote in the report released on Oct. 30.
FINTRAC said a disclosure can pertain to an individual or a criminal network, and law enforcement can use disclosures to put together affidavits to obtain search warrants and production orders. Of the 2,730 unique disclosures FINTRAC generated, 2,316 were sent to the RCMP, 982 were sent to municipal police, 886 were sent to provincial police, 844 were sent to the Canada Border Services Agency, and 361 were sent to the Canada Revenue Agency.
The report said FINTRAC played a “key role” in the federal government’s fight against illegal fentanyl and illicit opioids, as the agency generated more than 100 disclosures of intelligence that could be acted upon.
The report said FINTRAC’s financial intelligence contributed to more than 200 “complex” investigations at the municipal, provincial and federal levels, and 96 percent of feedback from law enforcement and national security indicated that this intelligence was actionable. Continue…