RE:RE:Made 3 billion in quarter and world is endingTD Bank gets Canada under financial scrutiny
More to be found with ties to Real Estate
The Globe and Mail reports in its Thursday edition that Canada will be one of the first countries whose ability to tackle financial crime will be evaluated under the Financial Action Task Force (FATF), an intergovernmental body that sets standards to combat money laundering and terrorist financing. The Globe's Alexandra Posadzki writes that means there are no case studies for the country to look to as it prepares for the international review. FATF is an international intergovernmental organization whose main objective is to set standards for combatting money laundering and terrorist financing, and to ensure that those standards are effectively implemented through a process of mutual country evaluations. Countries that are found to be deficient in managing financial crime risks are added to the FATF's grey list and subjected to increased monitoring. The FATF also maintains a blacklist of countries deemed high risk owing to what the organization calls "serious strategic deficiencies." Being grey-listed or blacklisted can have serious negative consequences, such as curtailing foreign investment. Earlier this year, TD Bank became the first lender in U.S. history to plead guilty to conspiracy to commit money laundering.
https://globalnews.ca/news/10182919/dirty-money-new-book-fintrac-rcmp-financial-crimes-canada/