The commissioner’s audit found many of these files contain personal information that FINTRAC has no legislative authority to receive and collect, and that the department did not need or use for the purposes of fulfilling its duties. “This is particularly disappointing, given that FINTRAC had previously indicated that it was committed to finding new ways to limit the amount of personal information it was accepting and holding.”įINTRAC, which works co-operatively with various law enforcement agencies across Canada, was created under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act in 2000.Īs of March 2012, FINTRAC had a database that contained 165-million reports of potential fraudulent activity or terrorist financing. “Given the examples we found, I have serious concerns about the extent to which FINTRAC’s information holdings are populated with personal information that should never have even been submitted,” said Privacy Commissioner.
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