Financial Crime World

Canadains Take Aim at Financial Crime Prevention Strategies

The Royal Canadian Mounted Police (RCMP) has launched various initiatives and taskforces to combat financial crime and protect Canadians from victimization.

Public Awareness Key in Fight Against Economic Crime

Financial crime prevention is crucial in combating economic crime, and public awareness is a vital tool in this fight. To educate the public on ways to protect themselves, the RCMP partners with government agencies, stakeholders, and law enforcement organizations at the national and international levels.

Strategies Employed by the RCMP

Financial Crime Coordination Center (FC3)

Established in 2019, FC3 brings together experts from across intelligence and law enforcement agencies to identify and address significant financial crime threats. This team plays a critical role in preventing economic crimes and protecting Canadians from victimization.

Integrated Market Enforcement Teams (IMETs)

IMETs investigates criminals using capital markets to harm the economic interests of Canadians. Led by the RCMP, these teams comprise police officers, lawyers, and other investigative experts who receive extra market-related training and stay informed with the latest techniques and legal developments in their field.

Collaboration with Partner Agencies

The RCMP works closely with partner agencies, including:

  • Finance Canada
  • Justice Canada
  • Public Prosecution Service Canada
  • Public Safety Canada

These partnerships aim to dismantle organized crime groups and prevent financial crimes.

International Cooperation

The RCMP also collaborates with international partners through initiatives such as:

  • Financial Action Task Force (FATF)
  • International Anti-Corruption Coordination Centre (IACCC)

International Foreign Bribery Taskforce (IFBT)

As a member of the IFBT, the RCMP fights trans-border foreign bribery and works towards preventing economic crimes.

National Initiative to Combat Money Laundering (Anti-Terrorist Financing)

The RCMP is also part of this initiative, which aims to combat money laundering and terrorist financing.

Conclusion

The RCMP’s financial crime prevention strategies are designed to prevent economic crimes and protect Canadians from victimization. Through its partnerships with government agencies, stakeholders, and law enforcement organizations, the organization is working towards a safer and more secure financial environment for all Canadians.