Does privilege really prevent lawyers from reporting money laundering?

In Canada and the US, lawyers are not subject to anti-money laundering reporting obligations like they are in most other countries. One of the most frequent reasons given for this by lawyers is that to require us to report certain financial transactions to a financial intelligence unit is inconsistent with, and would undermine, legal privilege. [...]

Canada’s anti-money laundering evaluation shows Canada is doing worse, not better, in combatting money laundering and terrorist financing

Canada get 25% compliance grade from FATF FATF notes the concern of proceeds of crime coming into real estate in Vancouver from China The FATF Mutual Evaluation of Canada was released today and according to the Report, Canada achieved a grade of 25% compliance with international anti-money laundering and counter-terrorist financing standards. Out of 40 [...]

FinTech and Terrorist Financing – a major RegTech issue

The news last month that the couple responsible for the San Bernadino shooting had received a P2P loan for $28,000 from an online lender, Prosper Marketplace, was cause for concern among financial crime regulators. It was cause for concern because some financial regulators were of the view that a typology for terrorist financing is the [...]

The Jihad Express –> Gaziantep Turkey still ISIS’ conduit city of choice

Jihad Express Gaziantep, Turkey appears to have emerged as a city of choice for terrorist financing and human trafficking for the Islamic State (“ISIS“) in the past twelve months. Gaziantep is a city close to the Syrian border and is considered one of the key “porous” border towns, where people and goods illegally sold or [...]

Counter-Terrorist Financing Presentation in Toronto

With the Association of Certified Anti-Money Laundering Specialists, we’re organizing a special presentation on “Terrorist Financing Concerns & Risks in Ontario for the Financial Services Sector” on February 24, 2015, in Toronto. The presentation will be given by the OPP’s Deputy Commissioner, Scott Tod, and Deputy Director of FINTRAC, Barry MacKillop, and is sponsored by [...]

ISIS confirmed it is sending defectors back home to the West with instructions to commit terrorist acts

ISIS  sending defectors back home According to the popular website “Raqqa is Being Slaughtered Silently” written by people who oppose the Islamic State (“ISIS“) living in ar Raqqa, Syria, a town occupied by ISIS, ISIS is starting a campaign to send defectors back home to places like Canada, the UK, France and the US to [...]

Canada’s New Anti-Terrorism Act, 2015 – Bill C51

1. New Anti-Terrorism Act, 2015 The Government of Canada introduced its anticipated anti-terrorism legislation in Parliament. Bill C-51, entitled “An Act to Enact the Security of Canada Information Sharing Act and the Secure Air Travel Act” … (the “Anti-Terrorism Act, 2015“) which is intended to arm the government with broader powers to address the increasing threat of [...]

Ming Pao Newspaper covers diamond smuggling trade from Hong Kong to Vancouver

Diamond smuggling into Vancouver The Ming Pao Saturday Magazine has an interesting story on the arrest of two men from Hong Kong who attempted to smuggle $120 million worth of diamonds into Canada. The diamonds were strapped to their legs and are believed to be proceeds of crime. The story discusses the issue of money [...]

Is the ATM Global Network Unwittingly Used for Terrorist Financing?

We’re pleased to announce that Christine Duhaime is giving a presentation on the issue of “How the ATM Network Globally is Unwittingly Used for Terrorist Financing & Ways to Prevent it” at the 2015 Interac Conference in Ottawa. After a spouse of a member of the Islamic State Tweeted to the world from ar-Raqqah, Syria, [...]

Seminar on Terrorism Risks in Canada & Stopping Funding of Terrorism

On behalf of the Association of Certified Anti-Money Laundering Specialists in Canada, we’re pleased to announce a wine & cheese on the important topic of understanding terrorist threats in Canada and ways to stop terrorist funding on December 3, 2014 in Vancouver. The session is aimed at providing guidance to financial institutions, money services businesses, [...]