How does FINTRAC protect the personal information of private citizens?
FINTRAC is subject to the Privacy Act which strictly regulates how federal institutions can use and disclose personal information collected about individuals. In addition, the Proceeds of Crime (Money Laundering) and Terrorist Financing Act stipulates that one of the objects of FINTRAC is to ensure that the personal information under its control is protected from unauthorized disclosure. The Act also sets out that FINTRAC must deal with such information on a strict ‘need to know’ basis and that information can only be disclosed to police where there are reasonable grounds to suspect that the information would be relevant to investigating or prosecuting a money laundering offence or a terrorist activity financing offence. That information is also be disclosed to CSIS when there are reasonable grounds to suspect that it is relevant to threats to the security of Canada. Even in such circumstances, however, only ‘designated information’ as defined in the Act and regulations can be disclose
