What is FINTRAC's primary purpose?

• A. To help detect and deter money laundering and the financing of terrorist activities.
• B. To regulate interest rates.
• C. To prosecute all criminal offenses directly.
• D. To supervise mortgage lending.

Answer: (A)

FinTRAC, Canada’s financial intelligence unit, exists to identify and disrupt illicit financial activity. Its main role is to detect and deter money laundering and the financing of terrorist activities by collecting, analyzing, and sharing financial information and reports from various reporting entities. This helps law enforcement and national security agencies trace suspicious flows of funds and take action. It does not regulate interest rates, prosecute crimes, or supervise mortgage lending—those duties belong to other organizations. So, the description that focuses on detecting and deterring money laundering and terrorist financing best fits FINTRAC’s purpose.