Combatting Financial Crime
Which year did the federal government begin modernizing Canada's Anti-Money Laundering and Anti-Terrorist Financing Regime?
2019
Budget 2023 annonced the government's intention to introduce legislative amendments to the ____ to strengthen the investigative enforce, and information sharding tools of Canada's AML/ATF Regime
Criminal Code and the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA
Which act is the government intending to amend to modernize the federal financial framework?
Financial Administration Act
Which international body on money laundering will Canada serve as Vice President for two years starting July 2023?
Financial Action Task Force (FATF)
Which four countries are specifically mentioned as not to use Canada as a financial haven for illicit activities?
Russia, China, Iran, and North Korea
What kind of assets will law enforcement be able to freeze and seize under the new legislative changes proposed in Budget 2023?
Proceeds of Crime
For what reasons can OSFI take control of a federally regulated financial institution under the new proposals?
Financial instability or insolvency
What is the role of the Asia/Pacific Group on Money Laundering for which Canada will serve as co-Chair?
Enhancing measures to combat money laundering and terrorist financing.
Which province's commission report, named after its commissioner highlighted major gaps in the current AML/ATF Regime?
Cullen Commission
What protection is proposed for employees who report information related to financial crimes?
Protection against reprisals.
What is the new role designated to OSFI regarding FINTRAC disclosures?
Receiving disclosures from FINTRAC
What is the purpose of the publicly accessible federal beneficial ownership registry?
To combat money laundering