Financial Transactions and Reports Analysis Centre of Canada’s 2023–24 Departmental results report

For the period ending March 31, 2024

The Honourable François-Philippe Champagne,
Minister of Finance and National Revenue

ISSN 2560-8924

On this page

• From the Director and Chief Executive Officer
• Results: what we achieved
  • Core responsibility 1: Compliance with Anti-Money Laundering and Anti-Terrorism Financing Legislation and Regulations
  • Core responsibility 2: Production and dissemination of financial intelligence
  • Internal services
• Spending and human resources
  • Spending
  • Funding
  • Financial statement highlights
  • Human resources
• Corporate information
• Supplementary information tables
• Federal tax expenditures
• Definitions

From the Director and Chief Executive Officer

I am pleased to share with Parliament and Canadians the real and impactful results delivered in 2023–24 by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).

Over the past year, FINTRAC played a key role in helping to protect the safety and security of Canadians, particularly Canada's most vulnerable citizens and communities. With the information that we receive from Canadian businesses, we produced more than 4,600 financial intelligence disclosure packages, based on 1,783 unique disclosures, in support of money laundering and terrorist financing activity investigations across Canada and around the world. Our ability to provide multiple disclosure packages means that we can help Canada's law enforcement and national security agencies connect criminal activities and operations across a number of jurisdictions by following the money.

In June 2023, the Royal Canadian Mounted Police's (RCMP) Federal Serious and Organized Crime unit in New Brunswick recognized FINTRAC's contribution to an investigation into the trafficking of illegal drugs in that province, as well as in Ontario. Over the course of the investigation, police seized approximately 18 kilograms of cocaine, 3.5 kilograms of crystal methamphetamine and $454,000 in cash. Charges against four individuals included possession of cocaine for the purpose of trafficking, possession of proceeds of crime, and the commission of an offence for the benefit of, at the direction of, or in association with a criminal organization.

We continued to work collaboratively with our federal, provincial, municipal, private sector and international partners last year to advance Canada's innovative public-private partnerships, which target major money laundering threats both domestically and internationally. In partnership with Canada's largest banks, Canadian law enforcement agencies and foreign financial intelligence units, we generated more than 450 disclosures of actionable financial intelligence in support of money laundering investigations related to human trafficking, online child sexual exploitation, the trafficking of fentanyl, illicit cannabis activities, romance fraud, illegal wildlife trade, and casino-related underground banking.

FINTRAC also continued to help safeguard Canada's financial system and economy by ensuring that businesses comply with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and Regulations. With our broader shift to an enhanced risk-based approach to supervision, we have focused on modernizing and evolving our supervisory framework beyond measuring ‘technical compliance' to promoting risk awareness, risk identification and effective risk mitigation, closely aligned with the money laundering and terrorist financing vulnerabilities identified in Canada's inherent risk assessment for more than 30 economic sectors and financial products.

With this change, we are tailoring our approaches to better meet the needs of businesses in the form of services, support and tools that make it easier for them to identify and mitigate money laundering and terrorist financing risks, and meet legislative requirements. For example, our shift to risk-based supervision means providing businesses with ease of access to FINTRAC to upload and share reporting information. For us, it also means the ability to assess a business' data quality and timeliness and provide immediate feedback if there are anomalies in the rate or quality of reporting.

We are committed to working with businesses to assist them in understanding and complying with their obligations under the PCMLTFA and Regulations, including providing comprehensive guidance, answering thousands of enquiries, hosting dedicated fora and meetings with vulnerable sectors and introducing new communications tools and platforms. We have also made it clear that we will be firm in ensuring that businesses do their part to help protect Canada and Canadians, and we have taken firm action over the past year when it was needed. In 2023–24, FINTRAC issued the largest administrative monetary penalties in the history of the Centre. In total, the Centre issued 12 Notices of Violation in the amount of $26,115,999.

Just as we are working with businesses to assist and ensure their compliance with the PCMLTFA, so too are we working with them and our federal partners to implement our new vision for modernization, which is focused on combatting money laundering and terrorist financing in real time. This means harnessing modern skills, tools, and technologies to be able to identify, assess, and communicate risk in real-time; to support and respond to businesses in real-time; to receive reporting in real-time; to conduct our analysis in real-time; and to generate financial intelligence for law enforcement and national security agencies in real-time or as close to it as we can get.

With our innovative Digital Strategy, we are advancing Centre-wide digital automation, analytics and the responsible use of artificial intelligence. We have created a new digital acceleration and modernization team that will allow us to experiment with, and exploit, the latest technologies. With our focus on modernization, we are leaping ahead from a technical, process and culture perspective so that we can stay ahead of the bad actors, find new and meaningful ways to collaborate with our partners and continue to deliver value and results for Canadians in an ever-changing world.

I am honoured to share the impressive results that the Centre achieved for Canadians and to congratulate FINTRAC's highly skilled and dedicated workforce for the successes achieved in the past fiscal year. I am proud to work with such capable professionals who are recognized here in Canada and internationally for their knowledge, expertise and commitment to the global fight against money laundering and the financing of terrorist activities.

Sarah Paquet
Director and Chief Executive Officer

Results – what we achieved

Core responsibilities and internal services

• Core responsibility 1: Compliance with Anti-Money Laundering and Anti-Terrorism Financing Legislation and Regulations
• Core responsibility 2: Production and dissemination of financial intelligence
• Internal services

Core responsibility 1: Compliance with Anti-Money Laundering and Anti-Terrorism Financing Legislation and Regulations

In this section

• Description
• Progress on results
• Resources required to achieve results
• Related government-wide priorities
• Program inventory

Description

FINTRAC is responsible for ensuring compliance with Part 1 and Part 1.1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and its associated Regulations. This legal framework establishes obligations for reporting entities to develop and implement a compliance program in order to identify clients, monitor business relationships, keep records and report certain types of financial transactions. FINTRAC undertakes enabling and enforcement actions to ensure that the reporting entities operating within Canada's financial system fulfill their PCMLTFA obligations. These obligations provide important measures for countering patterns and behaviours observed in criminals and terrorists in order to deter them from operating within the legitimate channels of Canada's economy. FINTRAC also maintains a registry of money services businesses in Canada and foreign money services businesses that direct and provide services to persons and entities in Canada.

Progress on results

This section presents details on how FINTRAC performed to achieve results and meet targets for Compliance with Anti-Money Laundering and Anti-Terrorism Financing Legislation and Regulations. Details are presented by departmental result.

Table 1: Targets and results for Compliance with Anti-Money Laundering and Anti-Terrorism Financing Legislation and Regulations

Table 1 provides a summary of the target and actual results for each indicator associated with the results under Compliance with Anti-Money Laundering and Anti-Terrorism Financing Legislation and Regulations.

Additional information on the detailed results and performance information for the FINTRAC's program inventory is available on GC InfoBase.

Details on results

The following section describes the results for Compliance with Anti-Money Laundering and Anti-Terrorism Financing Legislation and Regulations in 2023–24 compared with the planned results set out in FINTRAC's departmental plan for the year.

As part of its core mandate, FINTRAC administers a comprehensive, risk-based compliance program to assist and ensure that businesses fulfill their obligations under the PCMLTFA and associated Regulations.

These obligations allow certain economic activities to be more transparent, which helps deter criminals and terrorists from using Canada's financial system to launder the proceeds of their crimes or to finance terrorist activities.

Compliance with the legislation also ensures that FINTRAC receives the information that it needs to generate actionable financial intelligence for Canada's law enforcement and national security agencies.

FINTRAC is shifting more fully towards an enhanced risk-based approach, modernizing and evolving our compliance framework to a supervisory one, to promote risk awareness, risk identification and effective risk mitigation by the businesses supervised by FINTRAC. The right suite of policies and procedures, supported by the right systems and training mechanisms, together with a capacity to change within a complex and dynamic operating environment, are key to this evolution.

In 2023–24, FINTRAC achieved the following results, and more:

Assistance to businesses

FINTRAC is committed to working with businesses across the country to assist them in understanding and complying with their obligations under the Act and associated Regulations.

In addition to publishing comprehensive and sector-specific guidance for businesses subject to the Act, FINTRAC provides timely and targeted guidance in relation to legislative and regulatory changes and other compliance-related issues on an ongoing basis.

• FINTRAC added to its video series to help businesses better understand how to meet their obligation to verify the identity of their clients. This obligation removes the anonymity from financial transactions and is one of the most important measures in place to protect Canada's financial system from money launderers and terrorist financiers. The videos capture, in a simple and succinct way, the different methods that businesses can use to verify the identity of a person or entity conducting a financial transaction. The videos are meant to increase the awareness and understanding of businesses of their obligation and support their anti-money laundering and anti-terrorist financing (AML/ATF) training needs.
• FINTRAC continued to work closely with the Department of Finance Canada to implement legislative and regulatory amendments that will expand the coverage of the PCMLTFA obligations to armoured car services and mortgage lenders in 2024–25. In addition, along with the Department of Finance, FINTRAC supported Innovation, Science and Economic Development Canada on the implementation of a publicly accessible beneficial ownership registry. Similarly, FINTRAC continued to collaborate with the Bank of Canada in the implementation of the new Retail Payment Activities Act and associated framework that is coming into force in November 2024.
• FINTRAC undertook outreach and engagement activities with businesses, industry associations, provincial regulators, federal departments and regulators, stakeholders and international partners through virtual and onsite meetings, presentations, conferences, training, and other exchanges of information. One example being the Casino Forum, which FINTRAC hosted in British Columbia in September 2023. The event brought together casino executives, federal partners and industry experts to discuss risk and emerging issues in the casino sector.
• FINTRAC responded to 10,934 enquiries from businesses in every reporting sector on a broad range of issues, including reporting obligations, access to reporting systems, the registration of money services businesses, and the requirements associated with the regulatory amendments that came into force in June 2021.
• As of March 31, 2024, 2,984 money services businesses were registered with the Centre. In total last year, 1,390 money services businesses registered or were renewed with FINTRAC. In addition, 135 businesses ceased their registrations, 250 registrations expired, there were 17 revocations and two denials of registration. All money services businesses that have ceased, expired, been revoked or denied are therefore not considered registered and cannot operate legally in Canada.
• FINTRAC continued to advance the work of the Public-Private Collaboration Steering Committee (PPCSC). The PPCSC is co-chaired by FINTRAC and brings together senior level executives from key federal partners and seven of Canada's largest banks. In 2023–24, the Committee focused on information sharing initiatives, in particular building use cases and system-level mapping of information flows to support consideration of how private-to-private information sharing could potentially be enabled in Canada to assist in the detection of money laundering and terrorist financing activity.

Assessment

FINTRAC monitors the quality, timeliness and volume of the financial transaction reporting that it receives from businesses across the country. The Centre has invested heavily in validating and monitoring reporting data, including improving its business processes to increase the effectiveness of its monitoring.

• FINTRAC assessed the compliance of over 600 businesses through one or more types of assessment activity. Approximately 89% of businesses assessed by FINTRAC did not require enforcement action. This means that these assessments resulted in no further activity or in a follow-up activity instead of enforcement (e.g., data integrity monitoring, a follow-up assessment, an action plan, etc.).
• FINTRAC received over 280 Voluntary Self-declarations of Non-compliance. Financial institutions submitted the majority of these declarations, pertaining to reports that had not been provided. The Centre collaborated with these financial institutions to ensure that the transactions reported were submitted accurately to FINTRAC, and provided guidance where required.
• Over the past year, FINTRAC conducted Supervision Risk and Assessment Questionnaires (SRAQ), which are completed by businesses and are designed to assess their risk exposure and compliance with their AML/ATF obligations. As FINTRAC scales this tool, the goal is to drive risk-sensitive supervisory interventions across sectors and inform FINTRAC's planning for targeted assistance, such as workshops and assessments, including examinations. Approximately 100 businesses completed the questionnaire in 2023–24 and the results help prioritize supervisory assessment activities of high-risk REs in future years.
• FINTRAC worked closely with the Department of Finance Canada in developing the Centre's new assessment of expenses (i.e., cost recovery) funding model. As part of the implementation plan, FINTRAC finalized the business processes, developed the tools to operationalize the funding model and implemented technology solutions required for the April 1, 2024 coming into force date. The associated Assessment of Expenses Regulations were approved by the Governor in Council and published in the Canada Gazette in October 2023. Legislative amendments granting FINTRAC the authority to assess a charge from the persons and entities it supervises and regulates came into force in January 2024. These regulations and legislative amendments will enable FINTRAC to recover the annual costs of its compliance program starting in 2024–25.
• FINTRAC's compliance program moved from regional management to enterprise management, where end-to-end operations are now delivered through sector-specific streams. With this more targeted, client-centric approach to supervision, new teams were established with a dedicated focus on a particular business sector. Employees on those teams are committed to acquiring in-depth knowledge of the business processes and risks in that sector, resulting in more meaningful and targeted assistance as well as the ability to target the most significant risks, thereby strengthening the overall effectiveness of Canada's Anti-Money Laundering and Anti-Terrorist Financing Regime.

Enforcement

FINTRAC is committed to working with businesses to assist them in understanding and complying with their obligations. However, the Centre is also prepared to take firm action when it is required to ensure that businesses take their responsibilities seriously.

In 2008, FINTRAC received the legislative authority to issue administrative monetary penalties to businesses that are in non-compliance with the Act. Under the legislation, penalties are intended to be non-punitive and are focused on changing the non-compliant behaviour of businesses. The administrative monetary penalties program supports FINTRAC's mandate by providing a measured and proportionate response to particular instances of non-compliance.

In 2019, the Centre published its updated Administrative Monetary Penalties policy, which outlines clearly and transparently the penalty process and FINTRAC's method of calculating penalties for non-compliance with the Act and associated Regulations. The Centre also developed and published a number of specific guides that describe its approach to assessing the harm done by the 200 violations prescribed in the Proceeds of Crime (Money Laundering) and Terrorist Financing Administrative Monetary Penalties Regulations, as well as FINTRAC's rationale in determining the corresponding penalty amounts.

FINTRAC is required to publicly name all persons and entities that receive an administrative monetary penalty. In the past year, the Centre committed to being more open and transparent, and publishing additional information, about the nature of violations committed by businesses subject to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act.

In 2023–24, FINTRAC issued the largest administrative monetary penalties in the history of the Centre. In total, the Centre issued 12 Notices of Violation in the amount of $26,115,999. The public notice of a penalty may occur months after the issuance of a Notice of Violation. Therefore, the fiscal year that an administrative monetary penalty is made public may not align with the fiscal year that the Notice of Violation is issued.

Cultivate strategic relationships with key external stakeholders

FINTRAC is committed to leveraging the knowledge and expertise of our domestic and international partners to influence change in the way we detect and deter money laundering and terrorist activity financing.

• FINTRAC is a member of Canada's delegation to the Financial Action Task Force (FATF), an international body that sets standards and promotes the effective implementation of legal, regulatory and operational measures for combatting money laundering and terrorist financing. In the last year, FINTRAC contributed to the review of several mutual evaluations and follow-ups and supported the improvement of FATF standards and processes.
• FINTRAC actively contributed to Canada's preparation for the fifth round FATF mutual evaluation by leading on several areas of the self-assessment of the regime, supporting the Department of Finance and other departments and agencies in their work, and collaborating with regime partners on data collection and case studies.
• The Centre also collaborated on numerous FATF policy and research documents, including on issues such as illicit financial flows from cyber-enabled fraud and crowdfunding used for terrorist financing, among others, to strengthen the international efforts to combat money laundering and terrorist financing through a strong international regime.
• FINTRAC continued to support Canada's international efforts to improve AML/ATF regimes around the world through its active and ongoing contributions to the work of FATF-style regional bodies, including the Caribbean Financial Action Task Force (CFATF) and the Asia/Pacific Group (APG).
• Over the last year, FINTRAC facilitated technical training sessions related to virtual assets and virtual asset service providers for the Financial Intelligence Unit (FIU) of Pakistan and FIU Trinidad and Tobago, as well as a session on anti-money laundering and anti-terrorist financing supervision and enforcement for Nigeria's FIU.
• FINTRAC's Director and CEO continued in her fourth year as Chair of Egmont's Information Exchange Working Group. The Egmont Group connects 177 FIUs worldwide to share information and cooperate to counter money laundering, terrorist financing, and related crimes. In 2023–24, the Director's mandate as Chair was renewed for an additional two years. This leadership position enables the Director to continue the strategic work and analysis to improve cooperation between FIUs and enhance FIU operational knowledge, efficiency and effectiveness, as well as participate in operational activities or projects undertaken by other international fora.
• FINTRAC has continued to be actively engaged in the International Supervisors Forum (ISF) and assumed the role of Chair in March 2024. The ISF is a venue for sharing information and best practices between international regulators from Canada, the U.S., the U.K., Australia, and New Zealand.

Resources required to achieve results

Table 2: Snapshot of resources required for Compliance with Anti-Money Laundering and Anti-Terrorism Financing Legislation and Regulations

Table 2 provides a summary of the planned and actual spending and full-time equivalents (FTEs) required to achieve results.

Complete financial and human resources information for the FINTRAC's program inventory is available on GC InfoBase.

Related government-wide priorities

Sustainable development

More information on FINTRAC's contributions to Canada's Federal Implementation Plan on the 2030 Agenda and the Federal Sustainable Development Strategy can be found in our Departmental Sustainable Development Strategy.

Innovation

Over the past year, FINTRAC continued to increase its footprint in the cloud, establishing cloud solutions that are more flexible, secure and scalable. With this new infrastructure in place, the Centre was able to implement application programming interface (API) report submission, which is FINTRAC's new platform for the secure system-to-system submission of financial transaction reports. These improvements are an integral part of the Centre's modernization goal of making it easier for businesses to fulfill their legal obligations while allowing FINTRAC to more effectively manage and leverage the high volume of information that it receives. This is critical to the Centre's analysis and ability to generate financial intelligence for Canada's law enforcement and national security agencies.

In combination with its new API report submission platform, FINTRAC also modernized key reporting forms over the past year, including the large cash transaction and the large virtual currency transaction reports. These new forms allow businesses to aggregate transactions according to amended regulations, and they contain new fields with better automation that will enhance data quality and allow for improved strategic data analysis. The modernization of the suspicious transaction, electronic funds transfer and casino disbursement reports continues into 2024–25.

Program inventory

Compliance with Anti-Money Laundering and Anti-Terrorism Financing Legislation and Regulations is supported by the following programs:

• Compliance program
• Strategic policy and reviews

Additional information related to the program inventory for Compliance with Anti-Money Laundering and Anti-Terrorism Financing Legislation and Regulations is available on the Results page on GC InfoBase.

Core responsibility 2: Production and dissemination of financial intelligence

In this section

• Description
• Progress on results
• Resources required to achieve results
• Related government-wide priorities
• Program inventory

Description

FINTRAC is mandated by the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) to produce actionable financial intelligence that assists Canada's police, law enforcement, national security and other international and domestic partner agencies in combatting money laundering, terrorism financing and threats to the security of Canada, while protecting the personal information entrusted to FINTRAC. The Centre also produces strategic financial intelligence for federal policy and decision-makers, the security and intelligence community, reporting entities across the country, international partners and other stakeholders. FINTRAC's strategic intelligence provides a wide analytical perspective on the nature, scope and threat posed by money laundering and terrorism financing.

Progress on results

This section presents details on how FINTRAC performed to achieve results and meet targets for Production and Dissemination of Financial Intelligence. Details are presented by departmental result.

Table 3: Targets and results for Production and Dissemination of Financial Intelligence

Table 3 provides a summary of the target and actual results for each indicator associated with the results under Production and Dissemination of Financial Intelligence.

Additional information on the detailed results and performance information for the FINTRAC's program inventory is available on GC InfoBase.

Details on results

The following section describes the results for Production and dissemination of financial intelligence in 2023–24 compared with the planned results set out in FINTRAC's departmental plan for the year.

As part of its core mandate, FINTRAC provides actionable financial intelligence to Canada's law enforcement and national security agencies to help them combat money laundering, terrorist activity financing and threats to the security of Canada. The Centre's intelligence plays a key role in helping to protect the safety of Canadians, particularly Canada's most vulnerable citizens and communities.

Given the complexity of connecting the flow of illicit funds often involving organized criminal groups, FINTRAC's financial intelligence frequently contains thousands of financial transaction reports in each disclosure. At the same time, the value of transactions in each disclosure may be in the millions or even hundreds of millions of dollars.

A financial intelligence disclosure may show links between individuals and businesses that have not been identified in an investigation, and may help investigators refine the scope of their cases or shift their sights to different targets. A disclosure can pertain to an individual or a wider criminal network, and can also be used by law enforcement to put together affidavits to obtain search warrants and production orders. FINTRAC's financial intelligence is used in a wide variety of criminal investigations related to the funding of terrorist activities and the laundering of proceeds originating from such crimes as drug trafficking, fraud, tax evasion, corruption and human trafficking.

FINTRAC's financial intelligence can also be used to reinforce applications for the listing of terrorist entities, sanctioned persons or entities and to advance the government's knowledge of the financial dimensions of threats, including those related to organized crime and terrorism.

FINTRAC's financial intelligence supports results across Canada's AML/ATF Regime and has been at the forefront of significant innovation. With Canadian businesses and law enforcement agencies throughout Canada, the Regime has put in place a number of very successful public-private partnerships. These partnerships aim to more effectively combat the laundering of proceeds stemming from human trafficking for sexual exploitation, online child sexual exploitation, romance fraud, the trafficking of illicit fentanyl, casino-related underground banking, as well as the laundering of proceeds from illicit cannabis and illegal wildlife trade.

A detailed overview of the important results achieved through Projects Protect, Guardian, Chameleon, Athena, Shadow, Legion and Anton can be found in FINTRAC's Annual Report. In total, in 2023–24, FINTRAC was able to provide more than 450 disclosures of actionable financial intelligence to Canada's law enforcement agencies in relation to the seven public-private sector partnerships.

In addition to the Centre's financial intelligence disclosures, FINTRAC also produces valuable strategic financial intelligence to fulfill its mandate. Through the use of research and analytical techniques, the Centre is able to identify emerging characteristics, trends and tactics used by criminals and other bad actors to launder the proceeds of crime, fund terrorist activities or finance threats to the security of Canada. The goal of FINTRAC's strategic intelligence is to inform Canada's security and intelligence community, regime partners and policy decision-makers, businesses, Canadians, and international counterparts about the nature and extent of these illicit financial activities. More details on how FINTRAC is enhancing awareness of money laundering and terrorist financing is available in FINTRAC's Annual Report.

In 2023–24, FINTRAC achieved the following results, among others:

Financial intelligence

• Produced more than 4,600 financial intelligence disclosure packages, based on 1,783^{Footnote 4} unique disclosures, in support of money laundering and terrorist financing investigations across Canada and around the world.
• Over the past year, the Centre's unique disclosures contained 297,733 financial transaction reports, which included more than 966,705 financial transactions.
• Approximately 20%^{Footnote 5} of the Centre's financial intelligence disclosures last year were provided proactively to Canada's law enforcement and national security agencies, as well as international FIU partners, which means the individuals or networks identified in the financial intelligence may not have been known to these agencies before FINTRAC's intelligence was received.
• FINTRAC received 2,485 voluntary information records related to money laundering and terrorist activity financing from Canada's law enforcement and national security agencies, as well as from members of the public. Voluntary information records provide critical information on alleged criminals and terrorists and are often the starting point for the Centre's analysis. These records are used by FINTRAC to establish connections between individuals and entities and to develop actionable financial intelligence for disclosure recipients.
• The Centre's financial intelligence contributed to 266 major, resource intensive investigations as well as many hundreds of other individual investigations at the municipal, provincial and federal levels across the country. Canadian law enforcement agencies—particularly the RCMP—continue to be the main recipients of FINTRAC's financial intelligence.
• Over the past year, the Centre received 159 disclosure feedback forms from Canada's law enforcement and national security agencies. 92% of the feedback received indicated that FINTRAC's financial intelligence provided new information on known subjects and 72% signaled that it included valuable information on unknown subjects related to their investigations.

• In 2023–24, FINTRAC received 39 media mentions across all levels of law enforcement as a result of its efforts to combat money laundering, terrorist financing and threats to the security of Canada.
• In 2023–24, FINTRAC's assistance was recognized by Ontario's Human Trafficking Intelligence-led Joint Forces Strategy, which includes the Ontario Provincial Police, Toronto Police Service, Greater Sudbury Police Service and Treaty Three Police Service. As a result of their 65 investigations since 2021, more than 230 charges were laid against 28 people. The victims ranged from 12 to 47 years old.
• With the support of the project lead bank, BMO, it was officially announced in 2023–24 that Project Protect was evolving to incorporate labour trafficking in its purview, in addition to human trafficking for the purposes of sexual exploitation. Strategic intelligence work began to produce a new operational alert with updated financial intelligence indicators relating to labour trafficking. With this evolution, the Project Protect team began to conduct outreach and awareness activities focused on labour trafficking to highlight how financial intelligence can be used to support these investigations. For example, in support of the United Nations World Day Against Trafficking in Persons in July 2023, FINTRAC organized a webinar titled “No survivor left behind: Opportunities and challenges in eradicating labour trafficking in Canada”. The event, which was attended by more than 300 virtual participants, included a case study of a recent labour trafficking investigation and a panel discussion on current trends in labour trafficking.
• FINTRAC collaborated with the Egmont's training arm, the Centre of FIU Excellence and Leadership (ECOFEL), to update their e-learning course on the Illegal Wildlife Trade using lessons learned from Project Anton. Over 200 FIU staff have taken the course globally.
• In 2023, FINTRAC, along with the Financial Crimes Enforcement Network (FinCEN) in the United States and Mexico's Unidad de Inteligencia Financiera collectively established the North American Drug Dialogue's Illicit Finance Working Group. The group meets monthly as part of a collaborative effort to further each country's domestic and international counter-narcotics strategies by constructing a more unified approach to detect, deter and prevent the illicit trade and financing of fentanyl and other synthetic opioids globally.
• As a founding member of the International Financial Action Strike Team (IFAST), FINTRAC hosted the first ever IFAST Analysts Exchange Program, a weeklong workshop focused on producing a joint intelligence product on a large international professional money laundering network.
• Participated in the Joint Chiefs of Global Tax Enforcement's 2023 Cyber Challenge, along with FIUs from each country, which generated dozens of leads, with a particular focus on crypto assets, for tax authorities and law enforcement agencies to investigate.
• In 2023–24, the Centre received 280 queries for information from foreign financial intelligence units in relation to money laundering and terrorist financing, and provided 97 unique disclosures and 231 disclosure packages. FINTRAC's unique disclosures to foreign financial intelligence units contained 48,771 transaction reports, which included a total of 56,577 financial transactions. The disclosures identified 427 subjects.
• In 2023–24, FINTRAC also contributed to the important work of the Global Coalition to Fight Financial Crime, a public-private coalition focused on enhancing the fight against financial crime globally by identifying weaknesses in the current system and advocating for tangible reform. FINTRAC's Director and CEO continued to serve as a Co-chair of the Financial Intelligence Unit and Law Enforcement Sub-Group within the broader Effectiveness Working Group. The goal of this sub-group is to advise on how financial intelligence units and law enforcement agencies can work collaboratively to ensure that financial intelligence is utilized to the fullest extent possible in order to disrupt financial crime.
• Throughout the year, FINTRAC explored new analytical tools to carry out novel and emerging analytical methods, techniques and capabilities with the goal of enhancing intelligence products and operational activities. As an example, the Centre developed and deployed an i2 automation tool to facilitate network generation and analysis.

Strengthen cross-government cooperation

• FINTRAC also engaged and helped advance the objectives of the Counter Illicit Finance Alliance of British Columbia (CIFA-BC). This included participating in regular meetings among all relevant CIFA-BC stakeholders, as well as the involvement of FINTRAC in smaller working groups created to generate reports and discuss specific issues pertaining to topics such as cryptocurrency, wildlife trafficking, illegal online gaming and improving information flows to support civil asset recovery. In these working groups and meetings, FINTRAC regularly engaged with many private sector entities, including financial institutions, credit unions and casinos, as well as with public sector stakeholders at all levels of government.
• FINTRAC participated in dozens of operational meetings with municipal, provincial and federal law enforcement agencies, security commissions and other federal and provincial organizations across the country. Of note, FINTRAC contributed to Project VECTOR, an investigation led by the Ontario Provincial Police's Provincial Auto Theft and Towing Taskforce.
• The Centre also provided nearly 60 presentations to its AML/ATF regime partners, stakeholders and Canadian law enforcement and national security agencies on the value of financial intelligence in relation to the investigation of money laundering, terrorist financing and other types of financial crime. These presentations were organized by, among others, the Canadian Police College (Internet Child Exploitation Course), the RCMP (Proceeds of Crime, Child Exploitation and Cryptocurrency Investigator Courses), the Ontario Police College (Fraud and Human Trafficking Investigator Courses), and the Toronto Police Service (Human Trafficking Conference).
• In February 2024, FINTRAC participated in an RCMP-led training program for East African FIU and Financial Crimes Investigators in the Seychelles in partnership with the UN Office on Drugs and Crime and in support of Global Affairs Canada's Anti-Crime Capacity Building Program.

Strategic intelligence

• Closely aligned with Canada's Updated Assessment of Inherent Risks of Money Laundering and Terrorist Financing, FINTRAC produced 22 strategic financial intelligence assessments and reports on a range of specific money laundering and terrorist financing trends, typologies and mechanisms in order to improve the detection, prevention and deterrence of these activities. These assessments and reports covered key priority areas, including professional money laundering, terrorist financing, money laundering by domestic and international organized crime groups, laundering the proceeds of human trafficking and fraud.
• Building on the successful launch of the Sectoral and Geographic Advisory on Underground Banking through Unregistered Money Services Businesses in 2022–23, FINTRAC undertook additional analysis in 2023–24 to inform a new Sectoral and Geographic Advisory on the role of virtual currency automated teller machines in laundering the proceeds of crime for publication in 2024–25.
• Over the last year, FINTRAC contributed to a number of new and ongoing projects, including in relation to trade-based money laundering and abuse of corporate structures; abuse of virtual assets and non-profit organizations for terrorist financing purposes; extreme right wing terrorism; and the role of financial intelligence units in countering sanctions evasion. FINTRAC also made significant contributions of strategic financial intelligence to the FATF Risks, Trends and Methods Working Group's Crowdfunding and Terrorist Financing Risks project.
• Following the Russian Federation's illegal invasion of Ukraine in 2022, FINTRAC worked with Canada's Five Eyes partners and Western European allies to establish the Russia-Related Sanctions and Illicit Finance Financial Intelligence Units Working Group. Over the past year, members continued to work within their respective authorities to surge the sharing of tactical financial intelligence and develop a common base of understanding through the dissemination of strategic-level intelligence on a variety of related issues.
• The 2023–24 fiscal year saw the resurgence and intensification of familiar trends observed over recent years. The increase in virtual asset prices and transaction volumes, after a sustained period of decline, has made cryptocurrencies of various types a more tempting vehicle for fraud schemes and a means to transfer ransomware proceeds. With international trade and financial transactions recovered from pandemic-linked lows, money launderers and those seeking to avoid the significant sanctions placed on Russia are relying on trade- and service-based money laundering schemes to hide the nature of transnational financial flows. Crowdfunding activities, where funds are sourced from a wide network of individuals using a variety of tools and platforms, are becoming an established part of the financing toolkit for supporters of violent extremist groups.
• FINTRAC continued to actively engage with the Financial Crime Coordination Centre (FC3) by participating in discussions on key trends and developments in the area of money laundering and terrorist activity financing. This included providing subject matter expertise to FC3's 2024 Spin Cycle conference and sharing relevant strategic intelligence through its Knowledge Hub Portal.
• FINTRAC's strategic intelligence function continued to place priority emphasis on trade-based money laundering activities to improve mutual awareness and understanding of new typologies and observations of interest to the Canada Border Services Agency led multi-disciplinary Trade Fraud and Trade-Based Money Laundering Centre of Expertise.

Resources required to achieve results

Table 4: Snapshot of resources required for Production and dissemination of financial intelligence

Table 4 provides a summary of the planned and actual spending and full-time equivalents (FTEs) required to achieve results.

Complete financial and human resources information for the FINTRAC's program inventory is available on GC InfoBase.

Related government-wide priorities

Sustainable development

More information on FINTRAC's contributions to Canada's Federal Implementation Plan on the 2030 Agenda and the Federal Sustainable Development Strategy can be found in our Departmental Sustainable Development Strategy.

Innovation

In 2023–24, FINTRAC successfully completed the new Government of Canada Agile Procurement process in collaboration with Shared Services Canada and Public Services and Procurement Canada. FINTRAC led numerous sessions, demonstrations and evaluations, which included a focus on needs for tactical and strategic intelligence production at the Centre. By taking an enterprise approach to defining an analytical solution, FINTRAC qualified five vendors to a Government-wide Supply Arrangement, which allows any Government of Canada department to engage in contracts that meet the scope of the project. Through the completion of phase 1, FINTRAC ranked the vendors on their ability to meet our needs, resulting in the ability to contract three top vendors for a proof-of-concept in 2024–25.

Program inventory

Production and dissemination of financial intelligence is supported by the following programs:

• Financial intelligence program
• Strategic intelligence, research and analytics

Additional information related to the program inventory for Production and dissemination of financial intelligence is available on the Results page on GC InfoBase.

Internal services

In this section

• Description
• Progress on results
• Resources required to achieve results
• Contracts awarded to Indigenous businesses

Description

Internal services are the services that are provided within a department so that it can meet its corporate obligations and deliver its programs. There are 10 categories of internal services:

• management and oversight services
• communications services
• legal services
• human resources management services
• financial management services
• information management services
• information technology services
• real property management services
• materiel management services
• acquisition management services

Progress on results

This section presents details on how FINTRAC performed to achieve results and meet targets for internal services.

FINTRAC's internal services support the Centre's core responsibilities and programs. A key priority is ensuring the protection of personal information under its control. All facets of FINTRAC's operations are subject to rigorous security measures that ensure the safeguarding of the Centre's physical premises and IT systems, including the handling, storage and retention of all personal and other sensitive information under its control. Internal services also support the development and delivery of effective and integrated services, policies, advice and guidance in the fields of finance, human resources, culture and change management, security, communication, procurement, administration, information management, and information technology. The overall objective is to ensure that FINTRAC has the proper capacity and corporate infrastructure to allow its workforce to achieve operational success.

As FINTRAC's responsibilities and operations grow in scope and complexity, its ability to deliver on its mandate remains directly tied to its adaptability, the skills and dedication of its employees, and the tools and resources available for them to do their work. As an organization committed to excellence, FINTRAC is focused on the effective management of its human, technological and financial resources, and will continue to enhance its security program, including strengthening its security screening capacity and cybersecurity, while also reinforcing the physical security of the facilities in light of the ever-changing threat landscape.

In 2023–24, FINTRAC launched a significant new modernization vision to ensure the Centre is positioned to address the emerging threats in the AML/ATF landscape. The vision is focused on establishing and enhancing the skills, processes and, most importantly, the new technologies needed for the Centre to work in real time. More details on FINTRAC's modernization vision and leveraging technology to meet the challenges of the future are available in FINTRAC's Annual Report.

The following are just some examples of the results FINTRAC achieved against its internal services objectives in 2023–24:

The hybrid workplace and protecting the health and safety of employees

• Continued to evolve the hybrid work model to respect Government of Canada direction, provide staff with collaboration opportunities that come from engaging with colleagues in the office space, and allow the continued flexibility to work remotely.
• FINTRAC's Ombuds for Workplace Wellness engaged, assisted and supported employees at every level to help staff navigate the changing work environment.

Inclusive, safe and healthy workplace

• Worked throughout 2023–24 to finalize and implement the Centre's Workplace Wellness and Culture Action Plan, which is focused on mindful leadership; a healthy, respectful and inclusive workplace; open communication and transparency; and talent acquisition, development and retention. The Action Plan incorporates measures to address results from the 2022–23 Public Service Employee Survey (PSES), which were released in mid-2023, as well as FINTRAC's annual Ombuds report, exit interviews, and other related inputs.
• Continued to offer an in-house Official Language School for employees to access high-quality in-person or virtual language training and continued to promote and support bilingualism in collaboration with the Official Language Champion and FINTRAC's Official Languages Working Group.
• Implemented a new Employment Equity, Diversity and Inclusion (EEDI) Strategy and Action Plan focused on talent acquisition and retention, professional growth, leadership and accountability, and employee engagement. FINTRAC leveraged results from the PSES, along with emerging trends in the diversity landscape, and best practices from a variety of partners and stakeholders to ensure any measures introduced in the strategy will create lasting systemic change and reduce barriers.
• Maintained a rigorous mandatory EEDI training program that includes unconscious bias and reconciliation related training. A three-year learning path was developed and piloted, with additional courses geared specifically to employees in supervisory or managerial roles. The courses were identified to develop a baseline of common knowledge across all employees. This is a step toward fostering a culture of inclusion. All FINTRAC employees have completed the phase 1 training modules.
• In 2023–24, the Centre implemented phase 2 of the Pay Equity Act, which included establishing the framework, plans and fundamental tools needed to complete implementation in 2025.
• FINTRAC produced its first Progress Report against its 2023–25 Accessibility Plan and made it public in December 2023. This report demonstrates the Centre's commitment to being a model for accessibility and to the Government of Canada's commitment for all Canadians to be able to fully participate in society with barrier-free communities, workplaces and services.
• In the last year, FINTRAC introduced improvements to employee leave provisions, which includes new provisions that recognize the need to support employee well-being and foster a compassionate workplace culture for those affected by domestic violence and other leaves to support the cultural rights and traditions of Indigenous peoples.
• Conducted over 246 staffing actions in 2023–24 to support the Centre's intelligence, compliance, and internal services. Hired 83 new students and 132 returning students.

Modernize the workplace

• Took a significant step forward by implementing a new Human Capital Management (HCM) solution. The system efficiently manages all aspects of human resources, from onboarding and absence tracking, to performance management and learning. It centralizes employee data, offering real-time insights that empower leaders to make informed, data-driven decisions. This transformation not only improves the overall employee experience, but also supports FINTRAC's strategic objectives by providing actionable intelligence to guide workforce planning and development.
• Remained focused on bolstering security protocols to safeguard critical and sensitive information. As part of this commitment, the Centre advanced its cloud transformation journey, transitioning essential assets to leverage the scalable and modern infrastructure offered by cloud technology. This strategic shift not only enhanced operational agility, but also positioned FINTRAC at the forefront of technological innovation.
• In 2023–24, FINTRAC stood-up an innovation hub called ‘the Forward Lab' and introduced the use of generative Artificial Intelligence (AI), creating tailored AI-powered tools (i.e., assistants) in a secure setting, which leverage large language model technologies that are capable of performing a variety of tasks such as creating documents, translating and responding to inquiries. The platform's AI assistants, sophisticated data management and collaborative tools are significantly increasing the Centre's operational efficiency and responsiveness. A Policy on the Use of Generative Artificial Intelligence (GenAI) was developed in 2023 to support the safe and responsible use at FINTRAC.
• Continued to mature product management, piloting rollouts, and making significant progress in preparation to rollout across the Centre in 2024–25. The shift to product management is not only about tools and processes, but also a shared commitment to innovation, agility, and a partnership-centric culture.
• In 2023–24, FINTRAC received full endorsement from the Government of Canada Enterprise Architecture Review Board of FINTRAC's proposed architecture plan to support the future state of analytics at the Centre. The architecture plan establishes a robust Data Operations Zone that will serve as a centralized platform for FINTRAC's data professionals to facilitate the ingestion, pooling, and processing of data from diverse sources to create a suite of data products that drive decision-making and operational efficiency.

Protecting personal information

• FINTRAC is the only federal agency whose governing legislation requires a biennial audit by the Office of the Privacy Commissioner on the measures it takes to safeguard the personal information that it receives and collects under the Act. The Office of the Privacy Commissioner commenced its fifth review of FINTRAC's privacy protection measures in 2023–24.

Resources required to achieve results

Table 5: Resources required to achieve results for internal services this year

Table 5 provides a summary of the planned and actual spending and full-time equivalents (FTEs) required to achieve results.

The complete financial and human resources information for the FINTRAC's program inventory is available on GC InfoBase.

Contracts awarded to Indigenous businesses

Government of Canada departments are to meet a target of awarding at least 5% of the total value of contracts to Indigenous businesses each year. This commitment is to be fully implemented by the end of 2024–25.

FINTRAC is a Phase 3 department, meaning the Centre must achieve the minimum 5% target by the end of 2024–25. However, in 2023–24 alone, FINTRAC awarded 11% of its total contract value to Indigenous businesses. These contracts with various Indigenous suppliers were for commodities, including IT equipment, office furniture, and professional services. FINTRAC continues to examine planned procurements at the pre-planning stage to identify opportunities for Indigenous businesses to be included in the process. There is a continued focus by procurement officers on purchasing commodities using tools that leverage Indigenous capacity (e.g., professional services and IT equipment), setting aside specific opportunities when beneficial to do so, and continuing to provide stakeholders with the tools and resources needed, along with proactive communication and timely change management practices.

Spending and human resources

In this section

• Spending
• Funding
• Financial statement highlights
• Human resources

Spending

This section presents an overview of the department's actual and planned expenditures from 2021–22 to 2026–27.

Budgetary performance summary

Table 6: Actual three-year spending on core responsibilities and internal services (dollars)

Table 6 presents how much money FINTRAC spent over the past three years to carry out its core responsibilities and for internal services.

Analysis of the past three years of spending

Actual spending in 2022–23 was $88.2M, an increase of spending of $11.1M (14.4%) from $77.0M in 2021–22. Total expenditures in 2023–24 were $98.6M, an increase of $10.5M (11.9%) compared to the expenditures in 2022–23 of $88.2M. The increase in expenditures is primarily attributed to increased costs in personnel and the acquisition of equipment and information-related expenses following the receipt of new funding in Budget 2022 to strengthen Canada's Anti-Money Laundering and Anti-Terrorist Financing Regime.

More financial information from previous years is available on the Finances section of GC Infobase.

Table 7: Planned three-year spending on core responsibilities and internal services (dollars)

Table 7 presents how much money FINTRAC's plans to spend over the next three years to carry out its core responsibilities and for internal services.

Analysis of the next three years of spending

Planned spending is expected to decrease from $109.4M in 2024–25 to $93.2M in 2025–26. Subsequent spending is expected to decrease again to $92.2M in 2026–27. The variance in planned spending between 2024–25 and 2026–27 is largely based on a decrease in the profile of funds in Budget 2020 and Budget 2022, as well as a reduction in planned spending that FINTRAC committed to as part of Budget 2023. In an effort to balance budgets and reduce deficits, FINTRAC has reduced non-essential expenditures while still enabling modernization within the workplace, building capacity in evolving threat areas, protecting intelligence and information, and preserving its supervisory capacity.

More detailed financial information from previous years is available on the Finances section of GC Infobase.

Information on the alignment of FINTRAC's spending with Government of Canada's spending and activities is available on GC InfoBase.

Funding

This section provides an overview of the department's voted and statutory funding for its core responsibilities and for internal services. For further information on funding authorities, consult the Government of Canada budgets and expenditures.

Graph 1: Approved funding (statutory and voted) over a six-year period

Graph 1 summarizes the department's approved voted and statutory funding from 2021–22 to 2026–27.

Analysis of statutory and voted funding over a six-year period

Actual spending was $77.0M in 2021–22 and $88.2M in 2022–23, an increase of $11.2M (14.5%) following the receipt of new funding announced in Budget 2022 to strengthen Canada's AML/ATF Regime, and the receipt of new funding announced in Budget 2021 to develop virtual currency expertise, the supervision of armoured car companies, and the implementation of a cost recovery funding model for FINTRAC's Compliance Program. Total expenditures in 2023–24 were $98.6M, an increase of $10.4M (11.8%) compared to spending of $88.2M in 2022–23 due to the profile of funds approved to strengthen Canada's AML/ATF Regime announced in Budget 2022 to modernize its tools and processes, and expand its operations.

Due to the implementation of a new assessment of expenses (i.e., cost recovery) funding model for its supervisory activities, statutory spending is expected to increase significantly and voted spending to decrease similarly. Overall spending is expected to increase to $109.4M in 2024–25 due to increased cost of planned investments to advance Centre-wide modernization efforts. Planned spending is expected to decrease in 2025–26 and 2026–27 due to the profile of funds approved in Budget 2022 and Budget 2020, and planned spending decreases attributable to the Government of Canada's refocusing spending exercise, which reaches the full amount in 2026–27.

For further information on FINTRAC's departmental voted and statutory expenditures, consult the Public Accounts of Canada.

Financial statement highlights

FINTRAC's complete financial statements (audited) for the year ended March 31, 2024, are available online.

Table 8: Condensed Statement of Operations (audited) for the year ended March 31, 2024 (dollars)

Table 8 summarizes the expenses and revenues for 2023–24, which net to the cost of operations before government funding and transfers.

The 2023–24 planned results information is provided in FINTRAC's Future-Oriented Statement of Operations and Notes 2023–24.

Table 9: Condensed Statement of Operations (audited) for the year ended March 31, 2024 (dollars)

Table 9 summarizes actual expenses and revenues which net to the cost of operations before government funding and transfers.

Table 10: Condensed Statement of Financial Position (audited) as of March 31, 2024 (dollars)

Table 10 provides a brief snapshot of the department's liabilities (what it owes) and assets (what the department owns), which helps to indicate its ability to carry out programs and services.

Human resources

This section presents an overview of the department's actual and planned human resources from 2021–22 to 2026–27. 

Table 11: Actual human resources for core responsibilities and internal services

Table 11 shows a summary of human resources, in full-time equivalents (FTEs), for FINTRAC's core responsibilities and for its internal services for the previous three fiscal years.

Analysis of human resources over the last three years

FTEs increased from 526 in 2022–23 to 537 in 2023–24. The variance in FTEs is mainly due to the increase in funding related to Budget 2022 to strengthen Canada's AML/ATF Regime.

Table 12: Human resources planning summary for core responsibilities and internal services

Table 12 shows information on human resources, in full-time equivalents (FTEs), for each of FINTRAC's core responsibilities and for its internal services planned for the next three years. Human resources for the current fiscal year are forecasted based on year to date.

Analysis of human resources for the next three years

Planned FTEs are expected to peak in 2024-25 at 580, and then decrease in 2025-26 and 2026-27 to 548 and 545 respectively, primarily due to the funding profile of Budget 2022 monies being used to strengthen Canada's AML/ATF Regime.

Corporate information

Departmental profile

Departmental contact information

Mailing address

Financial Transactions and Reports Analysis Centre of Canada
234 Laurier Avenue West
Ottawa, Ontario K1P 1H7
Canada

Telephone: 1-866-346-8722 (toll free)
Fax: 613-943-7931
Email: guidelines-lignesdirectrices@fintrac-canafe.gc.ca
Website: https://fintrac-canafe.canada.ca/intro-eng

Supplementary information tables

• Gender-based analysis plus

Federal tax expenditures

The tax system can be used to achieve public policy objectives through the application of special measures such as low tax rates, exemptions, deductions, deferrals and credits. The Department of Finance Canada publishes cost estimates and projections for these measures each year in the Report on Federal Tax Expenditures. This report also provides detailed background information on tax expenditures, including descriptions, objectives, historical information and references to related federal spending programs as well as evaluations and GBA Plus of tax expenditures.

Definitions

appropriation (crédit)

Any authority of Parliament to pay money out of the Consolidated Revenue Fund.

budgetary expenditures (dépenses budgétaires)

Operating and capital expenditures; transfer payments to other levels of government, departments or individuals; and payments to Crown corporations.

core responsibility (responsabilité essentielle)

An enduring function or role performed by a department. The intentions of the department with respect to a core responsibility are reflected in one or more related departmental results that the department seeks to contribute to or influence.

Departmental Plan (plan ministériel)

A report on the plans and expected performance of an appropriated department over a 3 year period. Departmental Plans are usually tabled in Parliament each spring.

departmental priority (priorité)

A plan or project that a department has chosen to focus and report on during the planning period. Priorities represent the things that are most important or what must be done first to support the achievement of the desired departmental results.

departmental result (résultat ministériel)

A consequence or outcome that a department seeks to achieve. A departmental result is often outside departments’ immediate control, but it should be influenced by program-level outcomes.

departmental result indicator (indicateur de résultat ministériel)

A quantitative measure of progress on a departmental result.

departmental results framework (cadre ministériel des résultats)

A framework that connects the department’s core responsibilities to its departmental results and departmental result indicators.

Departmental Results Report (rapport sur les résultats ministériels)

A report on a department’s actual accomplishments against the plans, priorities and expected results set out in the corresponding Departmental Plan.

full time equivalent (équivalent temps plein)

A measure of the extent to which an employee represents a full person year charge against a departmental budget. For a particular position, the full time equivalent figure is the ratio of number of hours the person actually works divided by the standard number of hours set out in the person’s collective agreement.

gender-based analysis plus (GBA Plus) (analyse comparative entre les sexes plus [ACS Plus])

An analytical tool used to assess support the development of responsive and inclusive how different groups of women, men and gender-diverse people experience policies, programs and policies, programs, and other initiatives. GBA Plus is a process for understanding who is impacted by the issue or opportunity being addressed by the initiative; identifying how the initiative could be tailored to meet diverse needs of the people most impacted; and anticipating and mitigating any barriers to accessing or benefitting from the initiative. GBA Plus is an intersectional analysis that goes beyond biological (sex) and socio-cultural (gender) differences to consider other factors, such as age, disability, education, ethnicity, economic status, geography (including rurality), language, race, religion, and sexual orientation.

government-wide priorities (priorités pangouvernementales)

For the purpose of the 2023–24 Departmental Results Report, government-wide priorities are the high-level themes outlining the government's agenda in the November 23, 2021, Speech from the Throne: building a healthier today and tomorrow; growing a more resilient economy; bolder climate action; fighter harder for safer communities; standing up for diversity and inclusion; moving faster on the path to reconciliation; and fighting for a secure, just and equitable world.

horizontal initiative (initiative horizontale)

An initiative where two or more federal departments are given funding to pursue a shared outcome, often linked to a government priority.

non-budgetary expenditures (dépenses non budgétaires)

Net outlays and receipts related to loans, investments and advances, which change the composition of the financial assets of the Government of Canada.

performance (rendement)

What a department did with its resources to achieve its results, how well those results compare to what the department intended to achieve, and how well lessons learned have been identified.

performance indicator (indicateur de rendement)

A qualitative or quantitative means of measuring an output or outcome, with the intention of gauging the performance of an organization, program, policy or initiative respecting expected results.

plan (plan)

The articulation of strategic choices, which provides information on how a department intends to achieve its priorities and associated results. Generally, a plan will explain the logic behind the strategies chosen and tend to focus on actions that lead to the expected result.

planned spending (dépenses prévues)

For Departmental Plans and Departmental Results Reports, planned spending refers to those amounts presented in Main Estimates.

A department is expected to be aware of the authorities that it has sought and received. The determination of planned spending is a departmental responsibility, and departments must be able to defend the expenditure and accrual numbers presented in their Departmental Plans and Departmental Results Reports.

program (programme)

Individual or groups of services, activities or combinations thereof that are managed together within the department and focus on a specific set of outputs, outcomes or service levels.

program inventory (répertoire des programmes)

Identifies all the department’s programs and describes how resources are organized to contribute to the department’s core responsibilities and results.

result (résultat)

A consequence attributed, in part, to an department, policy, program or initiative. Results are not within the control of a single department, policy, program or initiative; instead they are within the area of the department’s influence.

Indigenous business (entreprise autochtones)

For the purpose of the Directive on the Management of Procurement Appendix E: Mandatory Procedures for Contracts Awarded to Indigenous Businesses and the Government of Canada’s commitment that a mandatory minimum target of 5% of the total value of contracts is awarded to Indigenous businesses, a department that meets the definition and requirements as defined by the Indigenous Business Directory.

statutory expenditures (dépenses législatives)

Expenditures that Parliament has approved through legislation other than appropriation acts. The legislation sets out the purpose of the expenditures and the terms and conditions under which they may be made.

target (cible)

A measurable performance or success level that a department, program or initiative plans to achieve within a specified time period. Targets can be either quantitative or qualitative.

voted expenditures (dépenses votées)

Expenditures that Parliament approves annually through an appropriation act. The vote wording becomes the governing conditions under which these expenditures may be made.