The international Financial Action Task Force has issued its verdict on Canada's anti-money laundering and terrorist financing regime. The takeaway is clear: progress has been made, but there is more work to do, which will drive the legislative agenda in the years to come.
Speaking recently with the Financial Post, Alana Scotchmer, a partner and member of Gowling WLG’s Financial Services Regulation Group, discussed Canada’s efforts to tackle financial crime and the need to strengthen its framework ahead of its next report-back.
“Given how narrowly Canada avoided enhanced follow-up, the three-year report-back is effectively a second exam," said Alana. "Standing still will not be enough. Canada needs to lift at least some of its moderate ratings."
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