In October, the Financial Action Task Force (FATF) released its 4th Enhanced Follow-Up Report & Technical Compliance Re-Rating for Canada. The FATF, as readers will know, is the organization that has set the international "gold standard" for states' anti-money laundering structures, and its system of regular mutual evaluation (i.e. AML officials from other states conduct "peer" evaluations") is one of the keys to how successful it has been in raising and enhancing AML standards across the globe.
This report was a follow-up to the FATF's 2016 evaluation of Canada, which tracked progress and pointed out a number of deficiencies. On the whole, Canada has improved its standing and moved into substantial compliance with many standards that had been identified as problematic in 2016. A good summary and review of this new report authored by lawyers at McCarthy Tetrault can be found here.
Book reference: Chapter 7
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