Regulatory Alerts2021-07-30
FINTRAC provides additional money laundering indicators associated with human trafficking for sexual exploitation in support of Project Protect
The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) has published an updated operational alert providing additional money laundering indicators to help financial institutions identify and report suspicious transactions linked to human trafficking for sexual exploitation. Developed through the public-private Project Protect initiative alongside major banks and the RCMP, these guidelines build upon a 750% surge in related reporting that has already yielded 979 actionable intelligence disclosures for law enforcement. By enabling the disruption of illicit financial flows, the updated indicators directly support police investigations targeting trafficking networks and protecting predominantly female victims under the age of 25.