Despite collecting an ever-growing pile of reports on suspicious transactions, Canada’s financial intelligence agency is sending a diminishing number of disclosures to police about possible crimes, an IJF analysis has found.

Last year, 631,137 suspicious transaction reports (STRs) were filed by entities including banks, casinos and accountants, according to the Financial Transactions and Reports Analysis Centre of Canada (Fintrac)’s annual report for 2023-24. That’s about seven times more than a decade earlier.