Canada Draws the Line Between Financial Crime Intelligence & Privacy
The Privacy Commissioner of Canada has published new guidance explaining how financial reporting entities should seek approval for codes of practice governing the sharing of personal information to detect money laundering, terrorist financing, and sanctions evasion. On its face, the document is procedural. It explains what organizations need to submit and what the Commissioner will expect before approving a code. But procedural documents often reveal where policymakers believe the difficult work actually lies, and this one suggests the challenge is no longer whether institutions should collaborate. It is how they can do so without weakening the privacy protections that made collaboration difficult in the first place.
