15 Jul 2019
Criminal Code amendments to make it easier to prove money laundering are now in force in Canada.
The change to the Criminal Code offence of money laundering adds recklessness, a change that became law at the end of June.
This amendment criminalizes the activity of moving money on behalf of another person or organization while being aware that there is a risk that this activity could be money laundering and continuing with that activity in spite of the risk, officials in the federal Finance Department said in a written statement.
It lowers the threshold from having to prove that the offence was connected to an illegal activity, such as drug trafficking.
“This change modernizes Canada’s money laundering criminal offences to be consistent with key allies (e.g., U.K. and Australia), and provides an additional tool to disrupt and more effectively investigate and prosecute money laundering, particularly when dealing with sophisticated actors such as professional money launderers,” Finance Department spokesman Greg Sommerville said in a written response to Postmedia questions.
The change comes as the B.C. government has also ticked off another six recommendations from one of the independent reports it commissioned to combat money laundering.
Among those changes is that gambling regulation officers have a 24/7 presence in major Lower Mainland casinos.
By Gordon Hoekstra, Vancouver Sun, 14 July 2019
Read more at the Vancouver Sun
Count this content towards your CPD minutes, by signing up to our CPD WalletFREE CPD Wallet