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Bringing about a higher level of transparency and accountability in provincial and federal governments to help protect taxpayers from abuse

Bringing about a higher level of transparency and accountability in provincial and federal governments to help protect taxpayers from abuse.

Stop being a ‘safe haven’: How Canada could do a better job keeping ‘dirty money’ out of the country

The discovery of $2 million sent to Canadians from a suspected money-laundering network designed to hide dirty Russian money highlights the weaknesses of a financial intelligence system with too many loopholes and not enough teeth, say experts.

International banking documents provided to CBC News reveal 30 Canadian companies and individuals received dozens of payments between 2008 and 2013 from accounts in Cyprus and Lithuania.

The accounts are suspected to belong to an international web of companies created to obscure the movement of hundreds of millions of dollars connected to elaborate Russian tax frauds.

read more at cbc.ca

Criminals target Canada for money laundering

Canada “faces an important domestic and foreign money laundering threat” from criminal organizations that launder billions of dollars in this country.

The stiff warning comes from the Financial Action Task Force (FATF), which also sounds an alarm about the threat against “major financial institutions and some unscrupulous real estate lawyers” targeted by criminals involved in laundering money.

Source: https://www.thestar.com/opinion/commentary/2016/10/11/criminals-target-canada-for-money-laundering.html