Canada

TECHNICAL COMPLIANCE ANNEX – Key Deficiencies
Compliance with FATF Recommendations
Recommendation Rating Factor(s) underlying the rating
33. Statistics C • The Recommendation is fully met.
34. Guidance and feedback LC • There is more specific guidance needed in certain sectors
such as DNFBPs to ensure that they are aware of their
AML/CFT obligations, the risks of ML/TF and ways to mitigate
those risks. There is also further feedback required arising out
of the submitting of STRs.
35. Sanctions LC • The maximum threshold of administrative sanctions raises
doubts about the dissuasiveness of sanctions for serious
violations or repeat offenders.
36. International instruments C • This Recommendation is fully met.
37. Mutual legal assistance LC • The MLACMA does not allow for the interception of
communications (either telephone or messaging) based solely
on a foreign request, what hampers foreign investigations.
38. Mutual legal assistance:
freezing and confiscation
LC • Canada cannot respond to requests for the seizure and
confiscation of property of corresponding value.
39. Extradition C • The Recommendation is fully met.
40. Other forms of international
cooperation
LC • The impediments raised in R.29 for FINTRAC, notably the fact
that the FIU is not empowered to request further information
from REs and the fact that some RE are not requested to fulfil
STRs, impacts negatively the international cooperation with
its counterparts.
• LEAs are not able to use a large range of powers and
investigative techniques to conduct inquiries and obtain
information on behalf of foreign counterparts.
Technical compliance Annex
Anti-money laundering and counter-terrorist financing measures in Canada - 2016 © FATF and APG 2016
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