GOVERNMENT OF CANADA AGREES WITH FATF STATEMENT

UNCLAS OTTAWA 002015 SIPDIS SIPDIS STATE FOR WHA/CAN AND ISN/CPI M. NEW TREASURY FOR TFFC L. ARCHIN E.O. 12958: N/A TAGS: PARM PREL MNUC ECON KTFN CA SUBJECT: GOVERNMENT OF CANADA AGREES WITH FATF STATEMENT AND GUIDANCE ON IRAN REF: STATE 149648 (U) On Nov 1, econoff delivered points in reftel to Jane Pearse, Chief of Financial Crime - International Section, Finance Canada. She said that following the FATF statement Finance Minister Flaherty, on October 16, issued a statement saying that the GOC fully agrees with the FATF statement and that the FATF statement is "consistent with measures Canadian banks and other financial institutions are already undertaking with respect to Iranian transactions." Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), Canada's Financial Intelligence Unit, and the Office of the Superintendent of Financial Institutions Canada (OSFI) issued separate statments on October 12 reminding financial institutions "to give heightened attention to transactions related to Iran." The OSFI statement also reminded Canadian financial institutions of their obligations under Canada's Regulations Implementing the United Nations Resolutions on Iran. These regulations are available on the internet at: http://www.osfi-bsif.gc.ca/osfi/index e.aspx?ArticleID=1720 Visit our shared North American Partnership blog (Canada & Mexico) at http://www.intelink.gov/communities/state/nap WILKINS