Sources of Respendable and Non-Respendable Revenue

Non-Respendable Revenue
($ Thousands)
Program Activity 2009-10
Detection and deterrence of money laundering and terrorist financing
Administrative Monetary Penalties (AMPs) 178 86 - 79
Total Non-Respendable Revenue 178 86 - 79

FINTRAC has the legislative authority to issue Administrative Monetary Penalties (AMPs) to reporting entities that are in non-compliance with Canada's Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA). This program is a source of non-refundable revenue.

The purpose of the AMPs program is to encourage compliance with the PCMLTFA, rather than to punish non-compliance. As such, FINTRAC does not plan on issuing a specific number or value of AMPs per year and is unable to forecast the level of future non-respendable revenue derived from the issuance of AMPs.

Non-compliance with Part 1 of the PCMLTFA may result in criminal or administrative penalties. Both criminal and administrative monetary penalties cannot be issued against the same instances of non-compliance.

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