CANADA: FINTRAC SUSPICIOUS TRANSACTIONS INDICATORS

In July, the Canadian FIU, FINTRAC, published an Operational Brief containing Risks and Indicators for Dealers in Precious Metals and Stones.  It sets out to provide information and guidance about the factors that expose individuals and entities (both retailers and wholesalers/suppliers) that are dealers in precious metals and stones to money laundering and terrorist financing risks.  The brief also includes indicators to help such dealers determine when they should report a suspicious transaction to FINTRAC.  Kenneth Rijock, in his blog, said that it contains a number of good lists, all of which have generic application to a number of industries, and he recommends one takes a look at it.

https://www.fintrac-canafe.gc.ca/intel/operation/dpms-eng.pdf

This blog is primarily for my own use, to keep informed and up to date. However, if you would like to say thank you (and perhaps help me get a new, better laptop when I am away…) you can “buy me a coffee” at https://www.buymeacoffee.com/KoIvM842y

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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