The Sept. 30 document, obtained by CBC News under the Access to Information Act, found "significant" problems at six of the nine banks — including problems in providing Fintrac with suspicious transaction reports, or STRs.
The law requires financial entities to file an STR to Fintrac when a transaction is suspected of being linked to a money-laundering or terrorist activity financing offence, regardless of the dollar amount.
b"In examinations of the banking sector … 67% were found to have significant levels of non-compliance," says the report for Morneau.
The law requires financial entities to file an STR to Fintrac when a transaction is suspected of being linked to a money-laundering or terrorist activity financing offence, regardless of the dollar amount.
b"In examinations of the banking sector … 67% were found to have significant levels of non-compliance," says the report for Morneau.
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