OTTAWA – New figures show Canada’s financial sleuthing agency disclosed more than 1,000 pieces of intelligence to police and security agencies last year.
The Ottawa-based Financial Transactions and Reports Analysis Centre of Canada, known as FinTRAC, says the intelligence contributed to hundreds of police investigations.
The centre identifies cash linked to terrorism, money laundering and other crimes by sifting through millions of pieces of data annually from banks, insurance companies, securities dealers, money service businesses, real estate brokers, casinos and others.
The agency’s annual report, tabled quietly this week in Parliament, says the 1,143 disclosures to law-enforcement agencies in 2013-14 were up from 919 the previous year.
While the vast majority of them involved money laundering, 234 were related to terrorist financing or threats to the security of Canada, and 64 involved all three issues.
The centre says resulting police investigations included a two-year RCMP probe of a drug-trafficking organization with alleged ties to international organized crime groups.
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