Businesses subject to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (the Act) must report transactions suspected to be related to sanctions evasion to the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).

FINTRAC published the following guidance to support businesses subject to the Act in meeting these obligations: Report suspected sanctions evasion.

FINTRAC also developed a Special Bulletin on financial activity associated with suspected sanctions evasion to support businesses in identifying and assessing sanctions evasion risks, applying controls and measures to mitigate these risks, and effectively detecting and reporting suspicious transactions to FINTRAC.

For questions, please contact FINTRAC by telephone at 1-866-346-8722 (toll-free) or by email at guidelines-lignesdirectrices@fintrac-canafe.gc.ca.

Additional resources:

• Canadian sanctions (Global Affairs Canada)
• Joint financial intelligence advisory: illegal procurement of dual-use goods by Russian end-users
• Special Bulletin on Russia-linked money laundering activities