Which of the following is NOT a function of FINTRAC?

Which of the following is NOT a function of FINTRAC?

• A. Receiving and analyzing financial intelligence
• B. Ensuring compliance with ethical investment practices
• C. Assessing suspected money laundering cases
• D. Disclosing financial information threats to Canada's security

Answer: (B)

The function of FINTRAC (Financial Transactions and Reports Analysis Centre of Canada) primarily focuses on the collection, analysis, and dissemination of financial intelligence to combat money laundering and terrorist financing. Among its responsibilities, FINTRAC receives and analyzes financial transaction reports, assesses cases of suspected money laundering, and identifies threats to national security through financial intelligence.

Ensuring compliance with ethical investment practices is not within the scope of FINTRAC’s duties. While ethical investment practices are important, they are generally overseen by other regulatory agencies concerned with securities and financial market regulations, rather than by a financial intelligence unit like FINTRAC. Therefore, this aspect does not align with FINTRAC’s mission, which is focused specifically on analyzing financial data to identify and respond to illicit activities.