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Money laundering in Canada is a problem described by professionals in 2019 as a "national crisis," and which has attracted international attention. [1] As of July 2022, a public inquiry is currently being held to gauge the extent of the problem.
TORONTO (Reuters) - Canada's anti-money laundering agency is looking to introduce a system that gives financial institutions and other businesses real-time feedback through scorecards, two sources ...
FINTRAC was established in 2000 under the Proceeds of Crime (Money Laundering) Act to facilitate detection and investigation of money laundering. Its mandate was expanded in December 2001 following amendments to the Proceeds of Crime Act to also disclose financial intelligence to other Canadian intelligence and law enforcement agencies with ...
Corruption in Canada is the use of political power for private gain by Canadian government officials.. Canada has had the distinction of being the least corrupt government in the Americas as measured by the Corruption Perceptions Index; Canada's 2023 score of 76 is the first increase (after a slow decline to 74 in 2022) since Canada's highest score of 84 in 2012, when the current version of ...
The first Dirty Money report (officially: Dirty Money: An Independent Review of Money Laundering in Lower Mainland Casinos conducted for the Attorney General of British Columbia) was released in 2018. The report specifically focused on money laundering in the province’s casinos, and alleges the funds were often the proceeds of illicit ...
Canada's second-largest lender is in talks with U.S. federal prosecutors and its U.S. retail arm is expected to enter a plea in two weeks, the report said, citing unnamed people familiar with the ...
Since 2023, federal prosecutors have charged at least 31 people linked to Chinese groups accused of laundering cartel drug money. But those cases represent only the tip of the iceberg, the former ...
The report found money laundering by organized crime had become rampant at Canadian casinos. [14] A second volume of the report would later show a large share of the funds were the proceeds from fentanyl sales, and were subsequently “layered” into home purchases after being initially washed in the casinos.