Audit of the Financial Transactions and Reports Analysis Centre of Canada - page 42

AUDIT REPORT OF THE PRIVACY COMMISSIONER OF CANADA,
2013
40
FINANCIAL TRANSACTIONS AND REPORTS ANALYSIS CENTRE OF CANADA
RECOMMENDATION
FINTRAC’S RESPONSE
The “Consent to enter a dwelling house for compli-
ance examination” form should be further amended
to indicate the purpose of collecting the date of birth
on the form and the uses that will be made of it.
FINTRAC accepts the recommendation.
The purpose of collecting the date of birth on the
“Consent to enter a dwelling house for compliance
examination” form is to verify the identity of the
person that resides in the dwelling house. The
form was updated in order to reflect the purpose
of collecting such information and has been in use
since May 22, 2013.
As regulators have issued
Proceeds of Crime (Money
Laundering) and Terrorist Financing Act
(PCMLTFA)
guidance that instructs entities to report transaction
below the legislated threshold, FINTRAC should take
action to ensure that guidance issued by regulatory
partners is consistent with PCMLTFA requirements.
FINTRAC accepts the recommendation.
FINTRAC already works with regulatory partners to
assist sectors in meeting the obligations prescribed
by the PCMLTFA. FINTRAC will continue to work with
these regulatory partners to help ensure communica-
tion is consistent across all sectors, respecting the
legal authorities and mandates under which each
regulator operates. Through this work, FINTRAC will
reiterate to its regulatory partners the information
that is to be reported to FINTRAC in accordance with
the PCMLTFA.
FINTRAC will reiterate to its regulatory partners the
information that is to be reported to FINTRAC in
accordance with the PCMLTFA, which will be done
on an ongoing basis.
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