Question Period Note: MONEY LAUNDERING

What is the Agency doing to combat money laundering and terrorist financing in Canada?

• The Canada Revenue Agency (CRA) is committed to protecting the integrity of the Canadian tax system by combating tax evasion, tax fraud, and other serious tax crimes, like money laundering.

• While Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) is the lead agency responsible for Anti-Money Laundering (AML), the CRA’s role in the context of the Anti-Money Laundering/Anti-Terrorist Financing Regime is to investigate money laundering cases that arise from tax crimes, and to minimize the impact that money laundering has on the Government of Canada’s ability to collect and protect taxes and duties.

• The CRA supports and works in collaboration with FINTRAC, alongside the Royal Canadian Mounted Police (RCMP), as well as law enforcement and financial institutions, to ensure compliance with Anti-Money Laundering (AML) regulations across various sectors of the economy.

• The CRA is one of the 13 federal departments and agencies, along with provincial, regional, and municipal regulatory and law enforcement bodies, that make up Canada’s Anti-Money Laundering/Anti-Terrorist Financing (AML/ATF) Regime.

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