Search Results for: Canadian

Anti-money laundering is a detection game, with AML officers (AMLOs) looking for red flags that may indicate crime-tainted transactions, and then digging deeper. But that usually requires automated alerts which need to be managed and tweaked, with algorithms configured according to risk.…

With the world’s illicit economy making up between 7% and 15% of global GDP according to the International Coalition Against Illicit Economies (ICAIE) (1), a national security NGO based in Washington DC, the need for robust law enforcement, including AML controls is clear.…

Speaking at the event on Friday (Feb 17), Mark Carney, UN special envoy for climate action and finance, and former central bank governor for the UK and Canada, said of the baseline: “It’s critical. You need compatible information.”  

Mr Carney stressed ongoing discussions between the ISSB and major jurisdictions, such as the EU (European Union), the USA and Japan, about the need for regulatory harmony.…

The fact that AML/CFT is expensive is widely appreciated by governments and international organisations, but they still support policies and programmes that cost a considerable proportion of the USD274.1 billion that LexisNexis Risk Solutions says is lavished on financial crime compliance (1).…

The Canadian and Ontario governments are proactively pushing the development of critical mineral production needed to fuel electric vehicle (EV) batteries, looking to leverage Canada’s vast mineral wealth in building a domestic EV sector.

The federal government in Ottawa released a Canadian Critical Minerals Strategy in December (2022) (1).…

Should all anti-money laundering typologies be made public? AML experts argue it depends on the circumstances, but in general, as criminals are usually ahead of the curve, there is not always much that the bad guys can learn from typologies unless nitty gritty details are revealed.…

The disgusting comments published by Twitter about Canada’s Governor General Mary Simon require the same response such defamation would spark against this newspaper should it have transgressed so appallingly – she should sue.

Yes, Canada’s respected 75-year-old first ever indigenous Governor General should sue Elon Musk for defamation, as owner of Twitter, which published these untrue and poisonous comments.…

The goal of any anti-fraud investigation is to uncover the truth about wrongdoing, and experience can help – with investigators using it to hone and direct their inquiries and uncover potential leads. But when might personal assumptions leach into misconceptions and bias that might push an investigator down the wrong track and reach the wrong conclusions?…

Money launderers continue to develop layering techniques to insert criminal proceeds into legitimate financial transactions, and these typologies are becoming increasingly varied.

‘Cuckoo smurfing’ is one new technique attracting attention, for instance, said a briefing note from Australian FIU Austrac (1).…

Yes, Canada’s respected 75-year-old first ever indigenous Governor General should sue Elon Musk for defamation, as owner of Twitter, which published these untrue and poisonous comments.

Twitter and Musk made money from them – they attracted eyeballs, which boosted ad clicks, and boosted the social media site’s profile.…