CANADA’S FIU AND FEDERAL MOUNTIES ARE TOO WEAK TO FIGHT BRITISH COLUMBIA ML, SAYS COMMISSION
June 27th, 2022
A major commission of inquiry in the Canadian province of British Columbia (BC) has concluded federal AML institutions are so ineffective, they should be bolstered by special provincial law enforcement and regulation.
The report, headed by a BC supreme court judge, Austin Cullen, lambasts Canada’s federal FIU FINTRAC, for failing “to produce timely, useful intelligence about money laundering activity”. In 2019–20, FINTRAC received more 31 million STRs, but sent only 2,057 intelligence reports to Canadian law enforcement, and just 355 in BC.
And as for ...
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