Canada’s anti-money-laundering watchdog, FinTRAC, plans to tighten scrutiny on funds linked to Iran due to a surge in suspicious transactions. The move follows global concerns over Iran’s financial practices, with the FATF urging action against high-risk jurisdictions. Canadian businesses are already required to report all financial flows involving Iran as high-risk transactions. FinTRAC has seen a significant rise in Suspicious Transaction Reports related to Iran.
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