CANADA CONSIDERS MAJOR REVISIONS TO ITS ANTI-MONEY LAUNDERING LAWS

Canada's House of Commons Standing Committee on Finance has issued a major white paper, making thirty-two recommendations for modifying Canada's AML laws. The subjects covered are:

(1) Beneficial Ownership
(2) Politically Exposed Persons
(3) Expanding PEP and Beneficial Ownership Requirements
(4) White Label ATM Services and Armored Cars
(5) Real Estate Sector
(6) Structuring
(7) Luxury Goods Sector
(8) Casino Sector
(9) Crypto-currency
(10) Suspicious Activity Reporting
(11) Information Sharing

The report, entitled Confronting Money Laundering and Terrorist Financing: Moving Canada Forward can be accessed here.