Financial Crime World

RCMP’s War on Financial Crimes: Teams, Initiatives, and Partnerships

The Royal Canadian Mounted Police (RCMP) takes a proactive stance against financial crimes in Canada, utilizing various teams, initiatives, and partnerships to prevent economic crimes and safeguard Canadians.

Teams

Collaborating with Key RCMP Units

The RCMP aligns with several teams to combat financial crimes efficiently. Some critical teams and their functions are:

  1. Federal Serious and Organized Crime (FSOC) team: Enhancing investigations by integrating financial investigation experts from the early stages of an investigation.
  2. Financial Crime Coordination Center (FC3): Identifying and addressing significant financial crime threats by mobilizing resources and expertise from diverse intelligence and law enforcement agencies.
  3. Integrated Market Enforcement Teams (IMETs): Specific teams committed to investigating capital market offenders that harm Canadians economically. Teams comprise experienced financial investigators, legal experts, and other specialists.

Partnerships

Collaborating with Domestic and International Agencies

The RCMP’s cooperation does not stop within Canada’s borders. Some crucial collaborations include:

  1. Financial Action Task Force (FATF): Coordinating efforts with international counterparts to set standards and combat money laundering, terrorism financing, and other threats to the global financial system.
  2. International Anti-Corruption Coordination Centre (IACCC): Assisting in investigations, sharing best practices, and collaborating with international partners to combat grand corruption.

Initiatives

Advancing RCMP’s Ability to Combat Economic Crimes

The RCMP benefits from several initiatives, including:

  1. National Initiative to Combat Money Laundering (Anti-Terrorist Financing): Resulted in significant legislative changes that:
    • Strengthened RCMP’s capabilities to investigate economic crimes through provisions like the Proceeds of Crime (Money Laundering) and Terrorist Financing Act.
    • Established essential organizations, such as the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), to receive, analyze, assess, and disclose financial intelligence.

Through its collaborations, units, and initiatives, the RCMP continues to lead the fight against financial crimes, safeguarding the economic interests of Canadians and maintaining the nation’s security.