What is the role of FINTRAC?

The role of FINTRAC, which stands for the Financial Transactions and Reports Analysis Centre of Canada, primarily involves the collection, analysis, and disclosure of financial transaction data to assist in detecting and preventing money laundering and other financial crimes.

By gathering this data, FINTRAC plays a critical part in the financial intelligence community in Canada, offering insights that can lead to law enforcement actions against criminal activities. This analysis helps identify suspicious patterns and activities that could indicate money laundering or terrorism financing, making their role essential in maintaining the integrity of the financial system.

In contrast, providing real estate licenses or regulating the sale of properties are functions typically carried out by provincial regulatory bodies, not FINTRAC. Additionally, while customer complaints in real estate are important, they fall under the jurisdiction of regulatory organizations focused on consumer protection within the real estate sector, rather than FINTRAC's specialization in financial transactions.