Money laundering watchdog scrutinizes Facebook, social media.


MP calls for parliamentary committee to investigate threat to privacy

Canadians who make large cash transactions, international wire transfers or win big at the casino could end up with a federal agency scrutinizing their Facebook pages and other social media posts, CBC News has learned.

The Financial Transactions and Reports Analysis Centre (FINTRAC), the federal government body charged with monitoring financial transactions to detect money laundering and terrorist financing, has been quietly scrutinizing the social media posts of Canadians whose transactions attract its attention.

FINTRAC defends the practice, saying the rules that govern it allow it to collect a variety of information.

“FINTRAC’s mandate is to detect, deter and prevent money laundering and terrorist financing activity,” spokesperson Renée Bercier wrote in response to questions from CBC News.

“It is important to remember that the perpetrators of these crimes oftentimes have an online presence and actively use the web, including social media, to connect with associates, facilitate their activities and, in the case of terrorism financing, even raise funds.”

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