Subscribers to ABCsolutions' On-Line Education Centre receive access to extensive resources that explore Canada's role in the fight against money laundering and the financing of terrorist activities, including:

  • What Is Money Laundering?
  • Money Laundering: A Three-Stage Process
  • Estimating the Extent of Money Laundering
  • Who Is Vulnerable To Money Laundering?
  • Canadian Law Enforcement Efforts
  • What Is FINTRAC?
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Canada, Money Laundering & Terrorist Financing

In Canada, money laundering is considered a multi-million dollar problem. Money launderers are known to exploit differences among national anti-money laundering systems and move their funds to jurisdictions with weak or ineffective laws. If a country's commercial and financial sectors are perceived to be vulnerable to money laundering, it can have a dampening effect on foreign investment. A robust anti-money laundering regime is essential to ensuring the protection of the financial sector, to maintaining public confidence, as well as to tracking terrorists' financial activities.

The government of Canada is also committed to efforts to prevent the financing of terrorist activity because of the importance of the consequences of these activities in the event they were successfully executed. Acts of terrorism pose significant threats to the safety and security of Canadians at home and to all people around the world.

The National Initiative to Combat Money Laundering was launched in 1999 as part of the government's ongoing effort to combat money laundering. Currently, Canada's Anti-Money Laundering/Anti-Terrorist Financing (AML/ATF) Regime is a governmental, horizontal initiative consisting of funded and unfunded partners. Funded partners include: the Department of Finance, Financial Transactions Report Analysis Centre of Canada (FINTRAC), the Canada Revenue Agency (CRA), the Canada Border Services Agency (CBSA) - Immigration and Customs, the Royal Canadian Mounted Police (RCMP), the Public Prosecution Service of Canada, and the Department of Justice (DOJ). Non-funded partners include: Public Safety Canada (PSC), the Office of the Superintendent of Financial Institutions (OSFI), and the Canadian Security Intelligence Service (CSIS).

On the legislative side, on June 29th, 2000, Bill C-22, the Proceeds of Crime (Money Laundering) Act was proclaimed into law and on December 18, 2001 Bill C-36 was designed to combat terrorism. Subsequently, The Proceeds of Crime (Money Laundering) Act was amended in December, 2001 to become the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA). Amendments (Bill C-25) to the PCMLTFA received Royal Assent on December 14, 2006.