The Government of Canada announced the first working meeting of the new Integrated Money Laundering Intelligence Partnership (IMLIP), which will support the permissible sharing of money laundering and organized crime intelligence between law enforcement and Canada’s big banks.
The partnership aims to bolster Canada’s response to organized crime and high-end money laundering schemes, including related to fentanyl trafficking. The partnership will also help facilitate strong working relationships between law enforcement agencies and the financial services sector, to establish a greater understanding of money laundering threats that face Canada.
Membership includes RCMP Federal Policing program officials and the chief Anti-Money Laundering officers of major Canadian financial institutions. The Department of Finance Canada and Public Safety Canada are the convenors of the initial partnership meetings, assisting in setting up a formalized governance structure authorized by law, and providing policy support.
“In order to be effective in addressing complex criminal activities such as money laundering, including those associated to lethal drugs like fentanyl, collaboration between the financial sector and law enforcement is key. This new partnership will play a vital role in helping detect, disrupt and prevent money laundering and organized crime activities,” said Dominic LeBlanc, minister of Finance and Intergovernmental Affairs, in a statement.
“One of the most effective ways we can tackle the illegal fentanyl trade and strengthen our border, is to follow the money. This new partnership will help identify and enable law enforcement to cut off illicit financial proceeds that fuel organized crime in this country, and work to dismantle the organizations that profit from illegal drugs,” said David McGuinty, minister of Public Safety, in a statement.
“Money laundering is a global problem that threatens Canada’s economy and national interests. To help combat this issue, the RCMP recognizes the importance of working with a wide array of partners to identify opportunities for disruption, and dismantle the organized crime groups involved. These partnerships will work to enhance our collective efforts and reduce the impact to Canadians,” said RCMP Commissioner Mike Duheme, in a statement.
“Canada is taking significant action to stop the production and trafficking of illegal fentanyl, and since no amount of fentanyl is too small to tackle, our goal is to eliminate it completely from our communities. This requires us to use every tool at our disposal, and intelligence sharing to combat money laundering is one of them. The new partnership will be a key contributor to help law enforcement agencies in their anti-money laundering efforts,” said Kevin Brosseau, commissioner of Canada’s Fight Against Fentanyl.
Canada also intends to use its 2025 G7 Presidency to highlight the threats from illicit finance and propose the development of a call to action by the G7 Finance Ministers to address criminal activity that impacts the financial sector and national security.