Cyber systems maturity and actualization
The cyber environment is increasingly hostile and uncompromising—bad actors exploit the cyber-vulnerable; governments and regulators increasingly demand cyber protections for their constituents.
money laundering
Red flag indicators for virtual currency transactions
On December 2, 2020, the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) published guidance on money laundering (“ML”) and terrorist financing (“TF”) red flag indicators for virtual currency transactions. In Canada, businesses dealing in virtual currency are subject to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (Canada).
Tales of a unified corporate registry: Canada's effort to counter and reduce the misuse of corporate vehicles
On February 13, 2020, the Government of Canada announced a national consultation strategy which seeks to examine methods to strengthen corporate transparency across the country. Announced through the release of the "Strengthening Corporate Beneficial Ownership Transparency in Canada" report, the consultation focuses on how to bolster law enforcement efforts to counter and reduce the misuse of corporate vehicles involved in money laundering, terrorist financing and tax evasion.
