The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) updated its guidance on politically exposed persons and heads of international organizations to provide greater clarity on bribery and corruption risks associated with these individuals.

FINTRAC also published money laundering indicators to assist businesses in identifying and reporting suspicious transactions related to bribery and corruption.

Bribery and corruption represent significant risks to the integrity of financial systems and the global economy. As part of their risk assessment, businesses subject to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act must determine when they may be required to submit suspicious transaction reports and listed person or entity property reports.

For more information, consult:
• Guidance: Politically exposed persons and heads of international organizations
• Transaction reporting – Suspicious transaction indicators