Money Laundering Act
Recent world events have changed many people’s outlooks and we all have become more alert and attentive to anything suspicious. Even before September 11, 2001, international business transactions and cross-border movement of funds had become the subject of greater scrutiny, following the establishment of an inter-governmental financial action task force on money laundering back in 1989. This organization produced a series of recommendations which have been implemented in over 50 countries. The Federal Government of Canada has introduced legislation to significantly strengthen Canada’s existing anti-money laundering regime, based on these recommendations.