Transparency International (TI) Canada releases its white paper on how Canada can develop a national financial crime agency.
Over the last two decades Canada has been criticized at home and internationally for its weak enforcement record in response to money laundering, foreign bribery, sanctions enforcement, and other criminal offences that could fall under the broad category of ‘financial crime’.
Through mandate letters and budgets, the Government of Canada has stated its intention to establish a Canadian Financial Crimes Agency (CFCA). In the 2023 federal budget, the government indicated that the CFCA should focus on investigations, enforcement, convictions, and asset seizures, specifically related to money laundering.