Rocky territory – Canada [Video]

Five percent of the rise in residential property prices in Vancouver in 2018 was attributable to money laundering, according to a panel headed by a past deputy attorney general for British Columbia. Peter German, a former Royal Canadian Mounted Police officer, has also found extensive abuse of casinos and the luxury car market, as well as large cash payments accepted by colleges and universities in the province. Although the Canadian federal government has proposed reforms to AML/CFT legislation these do not extend to lawyers filing SARs on their clients or cover finance and leasing companies. Keith Nuthall spoke to Matt McGuire of The AML Shop in Toronto about work in progress on Canada’s AML/CFT regime.