Canadian Intelligence Tracks Money Used for Funding Terrorist Activities in Middle East


A financial intelligence agency in Canada claimed that it had been actively assisting spies and police officers keep a track of the money used for funding overseas terrorist activities. According to the agency, the money is used to finance Islamic militants in the Middle East.

Financial Transactions and Reports Analysis Centre of Canada said that it had provided information to investigators in a fight against the Islamic State. The Ottawa-based agency prefers keeping a low profile, The Spec reported. Canada’s investigation against the financial flow for funding Islamic terrorism happens to get a significant support from its financial intelligence. FinTRAC Director Gerald Cossette said that his agency was a “key component” in the investigation conducted by the RCMP and Canadian Security Intelligence Service.

Cossette was talking to in a talk show by Norman Paterson School of International Affairs from the Carleton University. He said that terrorist groups like the IS could make a devastating impact if they had “access to substantial resources.” Cossette’s agency’s access to banking and financial transactions related data, which enables it to connect Canadian people and groups with those which support terrorist activities abroad. Overseas patrons of radical activities include those Canadian who endorse “guerrilla-style war” in Syria and Iraq. Cossette said that the main role of the agency would be to provide information to its security partners according to the demands of the RCMP and the CSIS. “In fact, we did disclose to them information about a certain number of individuals already,” he said.

According to The Canadian Press, the intelligence agency focuses on the cash flow related to terrorist activities. It keeps a track on money laundering by gathering information from securities dealers, real estate brokers and insurance companies. It also gathers data from casinos, money service businesses and banks. The..

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