Dodge knew of U.S. request

[CHIMO]

Bank chief aware of American request in 2002
Critics fear Canadian bank records given to C.I.A.

Bank of Canada governor David Dodge knew in 2002 that the U.S. government wanted data from an international banking organization for use in its war on terror.

U.S. officials have pointed out that in order to wire money through a bank, a person has to provide a name, address and account number. That information allowed U.S. authorities to pursue further investigation, they said.

Snow said the program began with the U.S. sending "narrowly crafted subpoenas all tied to terrorism" to SWIFT.

"Swift wasn't able to respond to a narrowly targeted subpoena ... because they didn't have the ability to extract the particular information from their broad database," he said. "So they said, `We'll give you all the data.'"

http://www.thestar.com/NASApp/cs/ContentServer?pagename=thestar/Layout/Article_Type1&c=Article&cid=1151531412964&call_pageid=968332188492&col=968793972154&t=TS_Home


http://www.thestar.com/NASApp/cs/ContentServer?pagename=thestar/Render&c=Page&cid=972514081251

[MrPrax]

1. Smoke...

I would have thought that the Star would have at least mentioned Canada's own programme that is even more lax than SWIFT and has been operating since in some form since 2000. FINTRAC's mandate is not just domestic and can be shared internationally with a lot less than a 'narrowly targeted subpoena' issued by SWIFT

The Financial Transactions and Reports Analysis Centre of Canada or
FINTRAC

http://www.fintrac.gc.ca/intro_e.asp

Who We Are

The Financial Transactions and Reports Analysis Centre of Canada, or FINTRAC, is Canada's financial intelligence unit, a specialized agency created to collect, analyze and disclose financial information and intelligence on suspected money laundering and terrorist activities financing . Created in July 2000, the Centre is an integral part of our country's engagement in the global fight against money laundering and the financing of terrorist activities. link

FINTRAC is a member of the Egmont Group

In June 2002, FINTRAC became a member of the Egmont Group of Financial Intelligence Units (FIUs) whose purpose is to enhance cooperation and information exchange in support of member countries' anti-money laundering and terrorist financing regimes. Currently comprised of FIUs from 101 countries, Egmont goals are to foster communication and improve the exchange of information, intelligence and expertise among FIUs. Gaining membership in Egmont represents an important milestone for FINTRAC. It allows us to strengthen relationships with FIUs from around the globe and will facilitate the establishment of bi-lateral information exchange agreements that will assist domestic and global efforts to detect, deter and prevent money laundering and terrorist financing.

From their FAQ:

I thought that FINTRAC's mandate was limited to detecting money laundering, what has changed?

As a result of the events of September 11, Parliament passed the Anti-Terrorist Act, which amends the Criminal Code and several other Acts, including the Proceeds of Crime (Money Laundering) Act. FINTRAC now administers the Proceeds of Crime (Money Laundering) and Terrorist Financing Act.

Specifically, under the new Act those individuals and businesses that are currently required to report to FINTRAC their suspicions of money laundering are also required to report suspicions of terrorist activity financing. Where those individuals and businesses report terrorist assets to the RCMP or CSIS as they are required to under the Criminal Code, they will also be required to file a report with FINTRAC concerning those assets. In addition, the new Act gives FINTRAC the authority to receive voluntary information from the public, law enforcement agencies, and others about suspicions of terrorist financing.
link

This one is funny... and helpful to know you can still use paper!

How will persons and entities make reports to FINTRAC?

The regulations clearly indicate that reports to FINTRAC shall be sent electronically where the reporting person or entity has the technical capabilities to do so. Where the technical capabilities do not exist, paper reporting is permitted. The guideline 'Submitting Reports to FINTRAC' provides details as to how reports can be sent to the Centre.
link

The irony in all this is that most western countries have a high level of reporting, information collection and storage that accompany financial transactions, but in the countries where laundering and 'terror' financing usually occurs, there is virtually no information collected (esp. offshore banking scammers), so the only one's likely to have information disclosed, purposely or not, are western customers anyway.

So who is fooling who, Mr. Cross?