FATF FINDS LAW FIRMS “HIGH RISK” FOR MONEY LAUNDERING IN CANADA
September 1st, 2016
LAW firms are at “high risk of misuse” for money laundering and terrorist financing in Canada, according to the international Financial Action Task Force (FATF).
FATF inspectors scoured Canadian anti-money laundering and combating the financing of terrorism (AML/CFT) provisions in a November 2015 visit and found: “All high-risk areas are covered by AML/CFT measures, except legal counsels, legal firms and Quebec notaries.” The September 15 mutual evaluation report on ‘Anti-money laundering and counter-terrorist financing measures – Canada’ ...
Full access to this article can be arranged with permission from the client that first ordered it. Please contact us to request access. Entries are uploaded to our archive at least one year after being published by a client – free access is restricted to International News Services journalists for background research only. The article date indicates when copy was filed to a client, not when posted to this archive. Upon client requests, International News Services will remove such articles from the archive or not upload them in the first place. They are included to demonstrate the breadth of topics undertaken by the agency and also to help promote clients’ coverage.