Suspicious transaction reporting in Canada jumps: finance agency
By David Ljunggren
OTTAWA (Reuters) - The number of reports of suspicious transactions in Canada possibly related to terrorist financing have jumped in the wake of two deadly attacks on the country's soldiers last month, an official said on Thursday.
The Financial Transactions and Reports Analysis Centre (FINTRAC), set up in 2000 to combat money-laundering and ensure the compliance of 31,000 financial entities doing business in Canada, asked institutions to quickly flag possible wrongdoing after the attacks.
"In the last few weeks there has been a notable increase in the reporting of suspicious transactions ... related to terrorist financing," said FINTRAC spokesman Peter Lamey.
"They are also of good quality and comprehensive in many cases. It's been useful to the work we've been doing," he added, declining to give specific details of the numbers.
Lamey would not say whether any of the reports were linked to the fatal attacks.
FINTRAC said last month that in the 2013/14 fiscal year, it passed on 1,143 cases to law enforcement bodies out of 81,735 potentially suspicious transactions reported by institutions - an increase from 919 the previous year.
Of these disclosures, 234 were specifically related to terrorist financing, up from 157 the previous year.
In an annual report presented to Parliament on Thursday, FINTRAC said it had received 241 requests for information from foreign intelligence units in the 2013/14 fiscal year, up from 202 the previous year.
(Writing by David Ljunggren; Editing by Alan Crosby)
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