Money laundering canada 2019: AML Enforcement in Canada: Budget 2019 Targets Financial Crime and Trade-Based Money Laundering

Money-laundering is inherently tied to systemic criminal activity that creates risk for legitimate businesses. Anti-corruption, economic sanctions, counterfeiting, diversion of export controlled technologies and financial fraud pose significant risk to financial institutions, industrial companies and the services sector alike. Financial institutions world-wide have been enhancing their due diligence and know-you-client (KYC) efforts in these areas for many years. Other sectors have not yet caught up, though global enforcement activity has brought greater attention notably to anti-corruption, sanctions and export control matters, among others, signalling the importance of adequate KYC and due diligence.

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