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Canada

Canada Amends the Criminal Code Offence of Money Laundering

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Photo Source: theguardian.pe.ca
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The Government of Canada has amended the Criminal Code offence of money laundering. The regulation changes criminalise moving money on behalf of someone despite money laundering suspicions.

“This change modernises 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 launderers,” Finance Department spokesman Greg Sommerville said.

Canada also considers other recommendations produced in the past 18 months. 120 recommendations were filed, but only 19 have been approved so far.

“Canada has fallen so far behind for so many years, we’re playing catch-up,” James Cohen, executive director of Transparency International Canada said.

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.

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