Response to Parliamentary Committees and External Audits

Response to parliamentary committees

On March 20th, 2013, after completing the second five-year Parliamentary Review of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA), the Senate Standing Committee on Banking, Trade and Commerce tabled its report, which included 18 recommendations.

In 2013–14, FINTRAC worked with the Department of Finance to consult with stakeholders on legislative and regulatory proposals to address the Senate report's recommendations. Amendments to the PCMLTFA were included in the Economic Action Plan 2014 Act, No. 1 that was tabled in Parliament in February 2014 and received Royal Assent June 19, 2014.

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