FATF Urges Canada to Crack Down on Financial Crime
The Financial Action Task Force urges Canada to improve the prosecution of sophisticated money laundering cases. Government data shows up to 113 billion dollars is laundered annually.
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Canada must step up prosecutions of sophisticated financial crime, according to a global watchdog assessment released on Tuesday. The Financial Action Task Force report highlights vulnerabilities in professional money laundering enforcement despite strong investigative capacity. Annually, between $32B and $80B is laundered through the nation, driven by organized crime and drug trafficking.
