Opinion: Ottawa may have promised reforms in the federal budget, but if it really wants to get serious, it needs to rein in lawyers
Ottawa’s budget earmarked about $200 million over the next five years to address Canada’s massive money laundering problem.
Especially undefended, it stated, are casinos, real estate, money services businesses, currency exchanges, wire exchanges, offshore corporations, legal “funnel accounts,” and hawala transactions . “Lawyers, they’re the biggest problem with money laundering in this country, as far as I’m concerned,” said Kim Marsh in an interview in 2017. He is the former head of the RCMP’s International Crime Unit and now a security consultant.
Besides, the law societies are riven with conflicts and have done a lousy job. For instance, it took five years for the B.C. Law Society to suspend a lawyer for six months after he allowed $25 million in suspicious transactions to flow through his trust account.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Diane Francis: China is a trade bully. Trudeau needs to stop dithering and fight backOpinion: No nation-state, or individuals, should be held to ransom by anyone
Read more »
Canada ignored its gigantic money laundering problem for years — and lawyers fanned the flamesDiane Francis: Ottawa may have promised reforms in the federal budget, but if it really wants to get serious, it needs to rein in lawyers
Read more »
Canada ignored its gigantic money laundering problem for years — and lawyers fanned the flamesDiane Francis: Ottawa may have promised reforms in the federal budget, but if it really wants to get serious, it needs to rein in lawyers
Read more »
Canada needs to do more to curb money laundering, U.S. report saysState Department analysis says only 169 trials on charges of the crime have led to a conviction in recent years
Read more »
Province receives two money laundering reports after reviews of real estate, carsBoth come after concern expressed about B.C.’s reputation as a “haven” for money laundering
Read more »
B.C. introduces landowner transparency law to prevent money laundering, tax evasion in real estateB.C.'s Landowner Transparency Act creates country’s first public registry of property owners to deter crime in real estate
Read more »
Yacht at centre of Malaysian money laundering scandal sold for half priceKUALA LUMPUR, Malaysia — Malaysia’s government said Wednesday that a luxury yacht allegedly bought with money stolen from a troubled state investment fund will be sold to casino operato…
Read more »
Yacht at centre of Malaysian money laundering scandal sold for half priceU.S. investigators say the $250 million yacht was bought with funds diverted from the 1MDB fund by fugitive Malaysian financier Low Taek
Read more »