'Banking probes may violate privacy, watchdog warns'
"Canadaâs financial institutions sometimes report suspicious transactions to a government
agency based on little more than a personâs ethnic background, leading to potential rights
violations, the countryâs privacy commissioner said"
a bankâs suspicious transaction report after a person cashed a government cheque for less
than $300, and another reported about a person who deposited a cheque for less than $10K
because of the personâs ethnic background and a recent vacation to a âparticular countryâ. "
Canadian law requires financial institutions to report transactions or fund transfers of $10K
or more, or âsuspicious transactions related to money laundering or terrorist financingâ
regardless of their size, according to the report."
FINTRAC - Financial Transactions and Reports Analysis Centre of Canada
http://www.canada.com/business/fp/Banking+probes+violate+privacy+watchdog+warns/2233106/story.html
what's the US and UK fintrac equivalent ?
"Canadaâs financial institutions sometimes report suspicious transactions to a government
agency based on little more than a personâs ethnic background, leading to potential rights
violations, the countryâs privacy commissioner said"
a bankâs suspicious transaction report after a person cashed a government cheque for less
than $300, and another reported about a person who deposited a cheque for less than $10K
because of the personâs ethnic background and a recent vacation to a âparticular countryâ. "
Canadian law requires financial institutions to report transactions or fund transfers of $10K
or more, or âsuspicious transactions related to money laundering or terrorist financingâ
regardless of their size, according to the report."
FINTRAC - Financial Transactions and Reports Analysis Centre of Canada
http://www.canada.com/business/fp/Banking+probes+violate+privacy+watchdog+warns/2233106/story.html
what's the US and UK fintrac equivalent ?