Canada has long been perceived as weak on financial crime. Encouragingly, however, the federal government recognizes these risks, and in April 2021 proposed to implement a public beneficial ownership registry over the next four years. This is a significant development, and it is vital that the provinces and territories now follow suit. It is time for a unified approach to deter money laundering and transnational organized crime and address the threat snow-washing poses to Canada’s hard-fought reputation for integrity and fairness.
