The Criminal Money Laundering Offence: Knowledge, Wilful Blindness, Belief and Recklessness; What Does it All Mean? How Can Regulated Entities Protect Themselves?
Previously, I wrote about the meaning of the newly-added fault requirement of recklessness to the criminal money-laundering prohibition and how it differs from knowledge, wilful blindness as its legal equivalent,…
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Having Trouble Deciding Whether There Are Reasonable Grounds to Suspect?
Well, you are in good company. So does the Supreme Court of Canada. The Court of Appeal for Ontario too. In Canada, entrapment is a full defence to a criminal…
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Is it Time to Rethink Suspicious Transaction Reporting?
With the amendment to ss.9(2) of the Suspicious Transaction Reporting (STR) Regulations coming into effect on June 1, it is appropriate to take a critical look at the scope and…
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Reporting Suspicious Transactions: “As Soon As Practicable”, Meaning What?
Included in the final amending regulations gazetted on July 10 amending the regulations made under the PC(ML)TFA is a significant change (effective June 1, 2020) as to when STRs must be…
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What Does Recklessly Laundering The Proceeds Of Crime Mean?
In the 2019 federal budget released by Finance Minister Bill Morneau on March 19, the government announced its intention to amend the Criminal Code prohibition against money laundering (s. 462.31(1)) by…
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One Issue FINTRAC Doesn’t Include in its New Suspicious Transaction Reporting Guidance
Failing to file a Suspicious Transaction Report (“STR”) is as serious as it can get when it comes to violations, with penalties that can be assessed up to a maximum…
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What are “Dealers in Virtual Currencies”?
Is it just me? Or, is there really a gaping hole in the draft amendments to the PC(ML)TFA and its regulations when in comes to the intended regulation of digital currency?…
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Government Tables Enabling Legislation for Deferred Prosecution Agreements
A month after it announced as part of the federal budget that it intended to introduce deferred prosecution agreements, the government tabled Bill C-74 on March 26. Through proposed amendments to…
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