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The Tyee - Better information sharing needed in fight against money laundering, says report

Published: 8 March 2011

An evaluation of Canada's anti-money laundering and anti-terrorist financing regime over the past decade suggests government institutions still don't share enough information among themselves. The report presented to the Finance Department by a private consulting firm Monday says a lack of proactive disclosures from Canada's financial intelligence unit hampered efficiency…

"I think the ordinary Canadian should think quite seriously about how much of our privacy laws and our political correctness we're willing to sacrifice in order to guard against these terrorists who need money to operate," said Tom Velk, director of McGill University's North American Studies program.

When it comes to anti-money laundering initiatives though, Velk said deciding how much information sharing can go on between departments is a tougher decision…

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