News
Une victoire importante pour la lutte contre le blanchiment d’argent au Canada
Dans un geste décisif contre l’argent sale, le gouvernement du Canada dépose un projet de loi pour la création d’un registre public de propriété effective des societés.
Canada deals a massive blow to money launderers with strong legislation for a publicly accessible corporate beneficial ownership registry.
Canada tables legislation for a publicly accessible corporate beneficial ownership registry which includes scalability for provinces and territories, data verification and validation.
New Report - Provinces need to step up and work with feds to resolve Canada’s opaque patchwork of corporate data
As the federal government prepares to launch a public beneficial ownership registry in 2023, the current state of corporate data across all 14 Canadian jurisdictions is an opaque patchwork – leaving Canada vulnerable to money laundering and other financial crimes. Provinces and territories are the weakest link.
Cullen Commission Final Report Recommendations Mark Major Victory For Deterring Dirty Money From Entering Shell Companies and Shell Properties in Canada
After three years of expert testimony and insight from two-hundred witnesses, the British Columbia Cullen Commission released its final report. A key win in the report is the recommendation for British Columbia to work with the federal government to create a centralized, beneficial ownership registry that is world-class, and would eventually cover the entire country.
Budget 2022 strikes critical blow against corruption with commitment for a publicly accessible beneficial ownership registry for companies and properties
Canada confirms an accelerated timeline for registry implementation by 2023, including scalability for provinces and territories, and data verification and validation.
Press Release: Canada marketed abroad as a secrecy jurisdiction to crooks and tax cheats: new report
Canada is known as an easy place to launder dirty money, or ‘snow-wash’. It’s not just the experts who know this though. International corporate service providers actively promote incorporating companies in Canada to clients who wish to take advantage of lax secrecy laws and low financial crime enforcement.
TI Canada joins press conference for Ontario Anti-Money Laundering in House Act
Transparency International Canada’s Executive Director, James Cohen, was invited to attend a press conference for the introduction of legislation to increase Ontario real estate. The Anti-Money Laundering in Housing Act, proposed by Ontario NDP Housing critic Jessica Bell (University-Rosedale), and MPP Bhutila Karpoche would require corporations, trusts, and partnerships that own real estate to disclose individual owners, with failure to comply resulting in fines of up to $100,000.
Press Release: FATF Recommendation 24 – Response from TI Canada
TI Canada makes submissions with TI movement and the ‘End Snow Washing’ Coalition for FATF consultation on Recommendation 24: Transparency and Beneficial Ownership of Legal Persons.
G7 TI Chapters Send Letters to Finance Ministers on Beneficial Ownership Transparency
On Friday, May 21, TI Canada sent a letter to Finance Minister, Chrystia Freeland, that urges G7 countries to unanimously commit to the adoption of beneficial ownership registries, and to coordinate in calling for beneficial ownership registries as a recommendation of the Financial Action Task Force (FATF).