

Currently released so far... 12404 / 251,287
Browse latest releases
2010/12/01
2010/12/02
2010/12/03
2010/12/04
2010/12/05
2010/12/06
2010/12/07
2010/12/08
2010/12/09
2010/12/10
2010/12/11
2010/12/12
2010/12/13
2010/12/14
2010/12/15
2010/12/16
2010/12/17
2010/12/18
2010/12/19
2010/12/20
2010/12/21
2010/12/22
2010/12/23
2010/12/24
2010/12/25
2010/12/26
2010/12/27
2010/12/28
2010/12/29
2010/12/30
2011/01/01
2011/01/02
2011/01/04
2011/01/05
2011/01/07
2011/01/09
2011/01/10
2011/01/11
2011/01/12
2011/01/13
2011/01/14
2011/01/15
2011/01/16
2011/01/17
2011/01/18
2011/01/19
2011/01/20
2011/01/21
2011/01/22
2011/01/23
2011/01/24
2011/01/25
2011/01/26
2011/01/27
2011/01/28
2011/01/29
2011/01/30
2011/01/31
2011/02/01
2011/02/02
2011/02/03
2011/02/04
2011/02/05
2011/02/06
2011/02/07
2011/02/08
2011/02/09
2011/02/10
2011/02/11
2011/02/12
2011/02/13
2011/02/14
2011/02/15
2011/02/16
2011/02/17
2011/02/18
2011/02/19
2011/02/20
2011/02/21
2011/02/22
2011/02/23
2011/02/24
2011/02/25
2011/02/26
2011/02/27
2011/02/28
2011/03/01
2011/03/02
2011/03/03
2011/03/04
2011/03/05
2011/03/06
2011/03/07
2011/03/08
2011/03/09
2011/03/10
2011/03/11
2011/03/13
2011/03/14
2011/03/15
2011/03/16
2011/03/17
2011/03/18
2011/03/19
2011/03/20
2011/03/21
2011/03/22
2011/03/23
2011/03/24
2011/03/25
2011/03/26
2011/03/27
2011/03/28
2011/03/29
2011/03/30
2011/03/31
2011/04/01
2011/04/02
2011/04/03
2011/04/04
2011/04/05
2011/04/06
2011/04/07
2011/04/08
2011/04/09
2011/04/10
2011/04/11
2011/04/12
2011/04/13
2011/04/14
2011/04/15
2011/04/16
2011/04/17
2011/04/18
2011/04/19
2011/04/20
2011/04/21
2011/04/22
2011/04/23
2011/04/24
2011/04/25
2011/04/26
2011/04/27
2011/04/28
2011/04/29
2011/04/30
Browse by creation date
Browse by origin
Embassy Athens
Embassy Asuncion
Embassy Astana
Embassy Asmara
Embassy Ashgabat
Embassy Apia
Embassy Ankara
Embassy Amman
Embassy Algiers
Embassy Addis Ababa
Embassy Accra
Embassy Abuja
Embassy Abu Dhabi
Embassy Abidjan
Consulate Auckland
Consulate Amsterdam
Consulate Adana
American Institute Taiwan, Taipei
Embassy Bujumbura
Embassy Buenos Aires
Embassy Budapest
Embassy Bucharest
Embassy Brussels
Embassy Bridgetown
Embassy Bratislava
Embassy Brasilia
Embassy Bogota
Embassy Bishkek
Embassy Bern
Embassy Berlin
Embassy Belmopan
Embassy Belgrade
Embassy Beirut
Embassy Beijing
Embassy Banjul
Embassy Bangkok
Embassy Bandar Seri Begawan
Embassy Bamako
Embassy Baku
Embassy Baghdad
Consulate Barcelona
Embassy Copenhagen
Embassy Conakry
Embassy Colombo
Embassy Chisinau
Embassy Caracas
Embassy Canberra
Embassy Cairo
Consulate Curacao
Consulate Ciudad Juarez
Consulate Chennai
Consulate Casablanca
Consulate Cape Town
Consulate Calgary
Embassy Dushanbe
Embassy Dublin
Embassy Doha
Embassy Djibouti
Embassy Dili
Embassy Dhaka
Embassy Dar Es Salaam
Embassy Damascus
Embassy Dakar
Consulate Dubai
Embassy Helsinki
Embassy Harare
Embassy Hanoi
Consulate Ho Chi Minh City
Consulate Hermosillo
Consulate Hamilton
Consulate Hamburg
Consulate Halifax
Embassy Kyiv
Embassy Kuwait
Embassy Kuala Lumpur
Embassy Kinshasa
Embassy Kingston
Embassy Kigali
Embassy Khartoum
Embassy Kathmandu
Embassy Kampala
Embassy Kabul
Consulate Kolkata
Embassy Luxembourg
Embassy Luanda
Embassy London
Embassy Ljubljana
Embassy Lisbon
Embassy Lima
Embassy Lilongwe
Embassy La Paz
Consulate Lahore
Consulate Lagos
Mission USOSCE
Mission USNATO
Mission UNESCO
Embassy Muscat
Embassy Moscow
Embassy Montevideo
Embassy Monrovia
Embassy Minsk
Embassy Mexico
Embassy Mbabane
Embassy Maputo
Embassy Manila
Embassy Manama
Embassy Managua
Embassy Malabo
Embassy Madrid
Consulate Munich
Consulate Mumbai
Consulate Montreal
Consulate Monterrey
Consulate Milan
Consulate Melbourne
Embassy Nicosia
Embassy New Delhi
Embassy Ndjamena
Embassy Nassau
Embassy Nairobi
Consulate Naples
Consulate Naha
Embassy Pristina
Embassy Pretoria
Embassy Prague
Embassy Port Of Spain
Embassy Port Louis
Embassy Port Au Prince
Embassy Phnom Penh
Embassy Paris
Embassy Paramaribo
Embassy Panama
Consulate Peshawar
REO Basrah
Embassy Rome
Embassy Riyadh
Embassy Riga
Embassy Reykjavik
Embassy Rangoon
Embassy Rabat
Consulate Rio De Janeiro
Consulate Recife
Secretary of State
Embassy Suva
Embassy Stockholm
Embassy Sofia
Embassy Skopje
Embassy Singapore
Embassy Seoul
Embassy Sarajevo
Embassy Santo Domingo
Embassy Santiago
Embassy Sanaa
Embassy San Salvador
Embassy San Jose
Consulate Strasbourg
Consulate St Petersburg
Consulate Shenyang
Consulate Shanghai
Consulate Sao Paulo
Embassy Tunis
Embassy Tripoli
Embassy Tokyo
Embassy The Hague
Embassy Tel Aviv
Embassy Tehran
Embassy Tegucigalpa
Embassy Tbilisi
Embassy Tashkent
Embassy Tallinn
Consulate Toronto
Consulate Tijuana
USUN New York
USEU Brussels
US Office Almaty
US Mission Geneva
US Interests Section Havana
US Delegation, Secretary
UNVIE
Embassy Ulaanbaatar
Embassy Vilnius
Embassy Vienna
Embassy Vatican
Embassy Valletta
Consulate Vladivostok
Consulate Vancouver
Browse by tag
ASEC
AE
AF
AM
AR
AJ
AU
AORC
AG
AEMR
AMGT
APER
AGMT
AL
AFIN
AO
AMED
ADCO
AS
ABUD
ABLD
ASUP
ASECKFRDCVISKIRFPHUMSMIGEG
APECO
AID
AND
AMBASSADOR
AN
ARM
AY
AODE
AMG
ASCH
AMCHAMS
ARF
APCS
APEC
ASEAN
AGAO
ANET
ADPM
ACOA
ACABQ
AORL
AFFAIRS
ATRN
ACS
AFSI
AFSN
ADANA
ASIG
AA
AX
AUC
AC
AECL
AADP
AGRICULTURE
AMEX
ACAO
ACBAQ
AQ
AORG
ADM
AINF
AIT
ASEX
AGR
AROC
ATFN
AFGHANISTAN
AFU
AER
ALOW
AZ
AVERY
BA
BY
BU
BR
BE
BL
BO
BK
BM
BILAT
BH
BEXP
BF
BTIO
BC
BBSR
BMGT
BTIU
BG
BWC
BB
BD
BX
BP
BRUSSELS
BN
BIDEN
BT
CW
CH
CF
CD
CV
CVIS
CM
CE
CA
CJAN
CLINTON
CIA
CU
CASC
CI
CO
CACM
CDB
CN
CMGT
CS
CG
CBW
CIS
CR
CONDOLEEZZA
CPAS
CAN
CWC
CY
COUNTER
CDG
CL
CT
CIC
CIDA
CSW
CHR
CB
CODEL
COUNTERTERRORISM
CTR
COM
CICTE
CFED
CJUS
CKGR
CBSA
CEUDA
CARSON
CONS
CITEL
CLMT
CROS
CITT
CAC
CVR
CDC
CAPC
COPUOS
CBC
CBE
CARICOM
COE
COUNTRY
CLEARANCE
CACS
CTM
CNARC
ECON
EFIN
ETRD
EUN
EFIS
EG
ETTC
EZ
EPET
EAID
EAGR
ENRG
ECUN
EU
ELAB
ECPS
EAIR
EINV
ELTN
EWWT
EIND
EMIN
EI
ECIN
ENVR
ELECTIONS
EINVEFIN
EN
ES
ER
EC
EUC
EINT
EINVETC
ENGR
ET
EK
ENIV
ETRDEINVECINPGOVCS
ECONOMY
EAP
EFTA
EUR
EUMEM
EXIM
ERD
ENERG
EUREM
ESA
ERNG
EXTERNAL
EPA
EINVECONSENVCSJA
ECONOMICS
ELN
EINN
EFINECONCS
ENNP
EEPET
ETRDEINVTINTCS
ENVI
ETRO
ESENV
ECINECONCS
ECONOMIC
EAIDS
EDU
ETRA
ETRN
EFIM
EIAR
ETRC
EAIG
EXBS
EURN
ECIP
EREL
ECA
ENGY
ECONCS
ECONEFIN
ETC
ETRDECONWTOCS
EUNCH
EINDETRD
IR
IZ
IS
IAEA
INRB
IRAJ
IQ
IN
IT
IMO
INTERPOL
ICAO
IO
IC
ITALY
ITALIAN
IRAQI
ICTY
ID
IPR
IWC
ILC
INTELSAT
IL
IBRD
IMF
IA
IRC
ICRC
ILO
ITU
ITRA
IV
IDA
IAHRC
ICJ
ISRAELI
IRS
INMARSAT
ISRAEL
ISLAMISTS
INDO
IZPREL
ITPHUM
ITPGOV
ITF
IBET
IEFIN
INR
IACI
INTERNAL
IDP
IGAD
IEA
ICTR
IIP
INRA
INRO
IF
KJUS
KSCA
KNNP
KU
KCOR
KCRM
KDEM
KTFN
KHLS
KPAL
KWBG
KACT
KGHG
KPAO
KTIA
KIRF
KWMN
KS
KG
KZ
KN
KMDR
KISL
KSPR
KHIV
KPRP
KAWK
KR
KUNR
KDRG
KCIP
KGCC
KTIP
KSUM
KPKO
KVIR
KAWC
KPIN
KGIC
KRAD
KIPR
KOLY
KCFE
KMCA
KE
KV
KICC
KNPP
KBCT
KSEP
KFRD
KFLU
KVPR
KOCI
KBIO
KSTH
KMPI
KCRS
KOMC
KTBT
KPLS
KIRC
KREL
KFRDKIRFCVISCMGTKOCIASECPHUMSMIGEG
KFLO
KBTS
KSTC
KTDB
KFSC
KX
KFTFN
KNEI
KIDE
KREC
KMRS
KICA
KPAONZ
KCGC
KSAF
KRGY
KCMR
KRVC
KVRP
KSEO
KCOM
KAID
KTEX
KNUC
KNAR
KNUP
KNNPMNUC
KLIG
KFRDCVISCMGTCASCKOCIASECPHUMSMIGEG
KCRCM
KHDP
KGIT
KNSD
KOMS
KWMM
KPAI
KHSA
KTLA
KO
KMFO
KRCM
KCSY
KSAC
KTRD
KPWR
KID
KWNM
KRIM
KPOA
KCHG
KOM
KSCI
KFIN
KMOC
KESS
KWAC
KMIG
KSEC
KIFR
KDEMAF
KPRV
KBTR
KERG
KTER
KDDG
KPAK
KRFD
KHUM
KDEV
KCFC
KWWMN
KWMNCS
KJUST
MARR
MOPS
MU
MTCRE
MNUC
MY
MASS
MCAP
MOPPS
MAR
MPOS
MO
ML
MR
MASC
MX
MD
MP
MA
MTRE
MIL
MCC
MZ
MK
MDC
MRCRE
MAPS
MV
MI
MEPN
MAPP
MEETINGS
MAS
MTS
MLS
MILI
MTCR
MG
MC
MARAD
MIK
MILITARY
MEDIA
MEPI
MUCN
MEPP
MT
MERCOSUR
MW
MASSMNUC
MQADHAFI
NZ
NATO
NG
NI
NO
NATIONAL
NU
NPT
NIPP
NL
NPG
NS
NA
NGO
NP
NSG
NDP
NAFTA
NR
NC
NH
NE
NSF
NPA
NK
NSSP
NRR
NATOPREL
NSC
NT
NW
NORAD
NEW
NV
NSFO
NAR
NASA
NZUS
OTRA
OVIP
OPRC
OPDC
OSCE
OAS
ODIP
OIIP
OFDP
OVP
OREP
OFFICIALS
OSAC
OEXC
OPCW
OIE
OIC
OFDA
OSCI
OPIC
OBSP
OECD
ON
OCII
OHUM
OES
OCS
OMIG
OPAD
OTR
PGOV
PREL
PHUM
PINR
PTER
PSOE
PINS
PARM
PK
PBTS
PEPR
PM
POLITICAL
PARTIES
PREF
PBIO
PROP
PA
PSI
PINT
PO
PKFK
PL
PAK
PE
POLITICS
PINL
POL
PHSA
PU
PF
POV
PFOR
PHALANAGE
PARTY
PARMS
PRGOV
PNAT
POLINT
PRAM
PMAR
PG
PAO
PROG
PRELP
PPA
PCUL
PSEPC
PSA
PREO
PAHO
PGIV
PREFA
PALESTINIAN
PAIGH
POSTS
PTBS
PGOVLO
PORG
PGOVE
PLN
PINF
PAS
PUNE
POLICY
PDEM
PDOV
PCI
PGOVSMIGKCRMKWMNPHUMCVISKFRDCA
PBT
PHUMPGOV
PMIL
PNG
PP
PS
PHUH
PECON
POGOV
PY
PHUMPREL
PHUS
PRL
PGOC
PNR
PGGV
PROV
PTERE
PGOF
PHUMBA
PEL
RS
RU
RW
REGION
RP
RICE
ROBERT
RSP
RUPREL
RM
RO
RCMP
RSO
RELATIONS
REACTION
REPORT
RIGHTS
ROOD
RF
RFE
RIGHTSPOLMIL
SP
SA
SY
SF
SYR
SENV
SCUL
SOCI
SNAR
SO
SU
SG
STEINBERG
SHUM
SW
SMIG
SR
SZ
SIPRS
SI
SAARC
SPCE
SARS
SN
SYRIA
SANC
SL
SCRS
SC
SENVKGHG
SAN
SNARCS
SHI
SWE
SNARIZ
SIPDIS
SEN
SNARN
SPCVIS
SEVN
SSA
SH
SOFA
SK
ST
TPHY
TU
TRGY
TI
TX
TS
TW
TC
TFIN
TD
TSPA
TH
TT
TIP
TBIO
TSPL
TZ
TERRORISM
TRSY
TN
THPY
TINT
TF
TL
TV
TK
TO
TP
TURKEY
TNGD
TBID
TAGS
TR
UP
US
UNSC
UK
UZ
UE
UNESCO
UV
UNGA
UN
UNMIK
UNO
UY
UAE
UNEP
UG
UNHCR
UNHRC
USUN
UNAUS
USTR
USNC
USOAS
UNCHR
UNCSD
UNDP
USEU
USPS
UNDC
UNDESCO
UNCHC
UNFICYP
UNC
UNODC
UNPUOS
UNCND
UNICEF
UNCHS
UNVIE
USAID
UNIDROIT
Browse by classification
Community resources
courage is contagious
Viewing cable 06OTTAWA3302, CANADA SEEKS TO AMEND MONEY LAUNDERING,
If you are new to these pages, please read an introduction on the structure of a cable as well as how to discuss them with others. See also the FAQs
Understanding cables
Every cable message consists of three parts:
- The top box shows each cables unique reference number, when and by whom it originally was sent, and what its initial classification was.
- The middle box contains the header information that is associated with the cable. It includes information about the receiver(s) as well as a general subject.
- The bottom box presents the body of the cable. The opening can contain a more specific subject, references to other cables (browse by origin to find them) or additional comment. This is followed by the main contents of the cable: a summary, a collection of specific topics and a comment section.
Discussing cables
If you find meaningful or important information in a cable, please link directly to its unique reference number. Linking to a specific paragraph in the body of a cable is also possible by copying the appropriate link (to be found at theparagraph symbol). Please mark messages for social networking services like Twitter with the hash tags #cablegate and a hash containing the reference ID e.g. #06OTTAWA3302.
Reference ID | Created | Released | Classification | Origin |
---|---|---|---|---|
06OTTAWA3302 | 2006-11-02 15:03 | 2011-04-28 00:12 | UNCLASSIFIED | Embassy Ottawa |
VZCZCXRO7698
PP RUEHGA RUEHHA RUEHQU RUEHVC
DE RUEHOT #3302/01 3061531
ZNR UUUUU ZZH
P 021531Z NOV 06
FM AMEMBASSY OTTAWA
TO RUEHC/SECSTATE WASHDC PRIORITY 4319
INFO RUCNCAN/ALL CANADIAN POSTS COLLECTIVE
RUEATRS/DEPT OF TREASURY WASH DC
UNCLAS SECTION 01 OF 03 OTTAWA 003302
SIPDIS
SIPDIS
DEPARTMENT FOR WHA/CAN, S/CT, EB/ESC - LYNNE LAMBERT, L/EB
- TOM HEINEMANN AND IO/ESC - JOHN SANDAGE
E.O. 12958: N/A
TAGS: ECON EFIN PTER CA
SUBJECT: CANADA SEEKS TO AMEND MONEY LAUNDERING,
ANTI-TERRORISM FINANCING LEGISLATION; UNDERTAKES OTHER
INITIATIVES
¶1. (U) Summary: The Harper Government has introduced a bill
(C-25) in Parliament to amend the Proceeds of Crime (Money
Laundering) and Terrorist Financing Act to ensure Canada's
global leadership in combating organized crime and terrorist
financing. In his introduction of the bill on October 5,
Finance Minister Flaherty said that "Canada's New Government
will continue to be relentless in its battle against money
laundering and terrorism financing," adding that "One of the
best ways of putting these criminals out of business is to
starve them of the funds they need to finance their
activities. Our proposed amendments will improve our ability
to act decisively." C-25 will make Canada's anti-money
laundering and anti-terrorist financing regime consistent
with new Financial Action Task Force (FATF) standards. They
include enhancing information sharing between the Financial
Transactions and Reports Analysis Centre of Canada (FINTRAC),
law enforcement and other domestic and international
agencies; creating a registration regime for money service
businesses; enabling legislation for enhanced client
identification measures; and creating an administrative and
monetary penalties regime to better enforce compliance with
the act. C-25 was debated in the House of Commons last week
and the Standing Committee on Finance held hearings on
October 31. Minister Flaherty expects the legislation to
pass Parliament by the end of the year. End summary.
¶2. (U) Since criminals constantly change their tactics and
find new ways to evade the law, Canada's anti-money
laundering and anti-terrorist financing regime must stay
up-to-date. The amendments to the 2001 Proceeds of Crime
(Money Laundering) and Terrorist Financing Act (PCMTFA)
contained in C-25 are designed to ensure Canada's regime
remains consistent with revised international standards while
addressing areas of domestic risk. The new legislation will
provide appropriate tools to law enforcement and meet
international standards, while respecting the personal
privacy of Canadians and minimizing the compliance burden on
financial intermediaries. C-25 proposes to enhance the
provisions of the PCMLTFA by strengthening "know your client"
standards; closing gaps in the regime; increasing compliance,
monitoring and enforcement; and strengthening FINTRAC's
intelligence function.
¶3. (U) In preparation for the legislation, the Department of
Finance issued a consultation paper entitled Enhancing
Canada's Anti-Money Laundering and Anti-Terrorist Financing
Regime in June 2005. Over 50 submissions from stakeholders
were received, followed by further face-to-face
consultations. As a result, C-25 addresses industry concerns
and minimizes the compliance burden by tailoring, where at
all possible, proposed new requirements to existing business
practices. The legislation also serves to meet Canada's
international commitments to combat money laundering and
terrorist financing while ensuring that its domestic regime
remains robust and up-to-date.
Description of C-25
-------------------
¶4. (U) The key provisions of C-25 are:
a) Enhanced client identification and record-keeping for
financial institutions and intermedaries
The amendments include requirements for reporting entities to
undertake enhanced monitoring of high-risk situations,
correspondent banking relationships and transactions by
politically exposed persons. Banks, insurance companies,
Qpolitically exposed persons. Banks, insurance companies,
securities dealers and money service businesses would be
required to take measures to identify and monitor the
transactions of foreign nationals and their immediate family
who hold prominent public positions.
b) Reporting attempted suspicious transactions
All reporting entities currently reporting suspicious
transactions would be required to report suspicious attempted
transactions to FINTRAC, in line with the practice in other
G7 countries and consistent with FATF Recommendations.
c) Registration regime for money service businesses (MSBs)
and foreign exchange dealers
The amendments would create a federal registration system for
individuals and entities engaged in money service businesses
or foreign exchange. FINTRAC would act as registrar and
would maintain a public list of registered MSBs and foreign
OTTAWA 00003302 002 OF 003
exchange dealers. These businesses are already covered by
the PCMLTFA; however, given that this is an unregulated
sector, the registry will assist FINTRAC in ensuring
compliance with the Act.
d) Enhancing the information contained in FINTRAC disclosures
As recommended in the 2004 Auditor General's Report and at
the behest of law enforcement, the amendments enhance the
information FINTRAC can disclose to law enforcement and
security agencies on suspicions of money laundering or
terrorist financing. This will increase the value of FINTRAC
disclosures, ultimately leading to more investigations and
eventual prosecutions.
e) Creating an administrative and monetary penalties regime
Currently the Act only allows for serious criminal penalties
if it is contravened. FINTRAC requires the ability to levy
fines to deal with lesser contraventions in order to take a
more balanced and gradual approach to compliance. The
amendments will create an administrative and monetary
penalties system, whereby fines can be applied for
non-compliance.
f) Reintroducing requirements for legal counsel
The GOC is working with the legal profession, including
notaries in Quebec, to finalize requirements for client
identification, record-keeping and internal compliance
procedures for legal counsel when they act as financial
intermediaries.
The new bill removes the obligation for legal counsel to file
suspicious transaction reports or other prescribed
transaction reports.
g) Expanding information sharing between federal departments
and agencies
Amendments would expand FINTRAC's ability to share
information with the Canada Border Services Agency (CBSA),
the Canada Revenue Agency and the Communications Security
Establishment. In addition, FINTRAC will now be able to
receive terrorist property reports under United Nations Act
regulations.
Internationally, the enforcement of the anti-money laundering
and anti-terrorist financing requirements would be
strengthened by information-sharing provisions on
compliance-related information between FINTRAC and its
foreign counterparts on obligations applicable to the
financial sector, and between the CBSA and its foreign
counterparts on the enforcement of the cross-border currency
reporting regime.
h) Technical Amendments to improve the Act
A number of technical amendments would improve the Act by
addressing inconsistencies between the French and the English
versions and ensuring consistency between the PCMLTFA and
related provisions in other acts, and to clarify existing
provisions and correct section references. These amendments
will help make the Act easier to read and interpret.
Other GOC Initiatives
---------------------
¶5. (U) In addition to the proposed legislation, the Harper
Government has undertaken other initiatives to bolster its
efforts to combat money laundering and terrorist financing.
In its first budget in May, the Harper Government announced
C$64 million in additional funding over the next two years
for FINTRAC, the RCMP and the Department of Justice. The
funding would:
-- increase the number of RCMP officers working in the
anti-terrorist financing and anti-money laundering units;
-- increase the capabilities of the Canada Border Services
Agency (CBSA) to detect unreported currency at airports and
border crossings;
-- enable Canada's Justice Department to handle the expanding
legal workload that will result from increasing the
Qlegal workload that will result from increasing the
enforcement resources of other government agencies;
-- ensure that FINTRAC can better analyze transactions
reports and monitor the compliance of the unregulated
financial sectors such as money remitters.
OTTAWA 00003302 003 OF 003
¶6. (U) Canada is setting up its involvement in regional
bodies such as the Asia/Pacific Group on Money Laundering and
the Caribbean Financial Action Task Force. Increased GOC
funding will help the Eastern Caribbean Central Bank improve
its money laundering and terrorist financing system, and to
provide on-the-ground training to improve the effectiveness
of regulation throughout the Caribbean and Asia/Pacific
Regions. Canada will also contribute resources to help the
Asia/Pacific Group in the delivery of technical assistance
and training within that region.
¶7. (U) In July, Minister Flaherty announced that Toronto has
been selected as the permanent headquarters of the
secretariat of the Egmont Group, an organization of the
SIPDIS
world's financial intelligence units, including FINTRAC. The
Harper Government will contribute C$5 million over the next
five years to help the secretariat get established. For the
first time ever, Canada has assumed the FATF Presidency, the
international body that develops and promotes policies to
combat money laundering and terrorist financing.
Visit Canada's Classified Web Site at
http://www.state.sgov.gov/p/wha/ottawa
WILKINS