Anti-Money Laundering

Anti-Corruption Strategy Report

IFAC's Action Plan for Fighting Corruption and Economic Crime (Action Plan) provides a framework for how we can enhance the accountancy profession’s role in combating corruption and economic crimes, thereby advancing the UN SDGs. The framework is organized into five overarching pillars and includes over thirty actions, that are meant to evolve over time.

Unexplained wealth orders could help stop the flow of illegal money. A recommendation from the Cullen report backs this up.

One of the more novel details in the Cullen Commission report had to do with the very last of the commissioner’s 101 recommendations, which calls for a new provincial regime allowing “unexplained wealth orders” (UWO).

Risky business: Non-compliance with anti-money laundering requirements

Learn about important changes brought to the anti-money laundering and terrorist financing (AML/ATF) legislation and the Criminal Code to deter non-compliance by all reporting entity sectors, including accountants and accounting firms.

New anti-money laundering/anti-terrorist financing (AML/ATF) requirements associated with record-keeping and reporting to FINTRAC

Stay informed of the new AML/ATF regulations as of June 1, 2021 which impact CPAs engaged in activities covered by the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA).

New anti-money laundering rules you need to know

Recent federal updates strengthen Canada’s AML regime to help staunch the flow of dirty money.

New “Know Your Client” AML/ATF Rules for CPAs

ANTI-MONEY LAUNDERING/ANTI-TERRORIST FINANCING (AML/ATF) DEVELOPMENTS

Anti-money laundering policy

Money laundering is a global issue which is illegal, unethical and harmful. In Canada, it poses threats to our national reputation, economy, and society. CPA Canada recognizes these threats and contributes to federal policy development.

Anti-Money Laundering: The Basics

Anti-Money Laundering: The Basics, developed collaboratively with ICAEW, helps professional accountants enhance their understanding of how money laundering works, the risks they face, and what they can do to mitigate these risks and make a positive contribution to the public interest.

Global Engagement Against Corruption: IFAC at the UNCAC CoSP9 | IFAC

The UNCAC is a legally binding treaty with 189 “States Parties” worldwide. It requires countries to criminalize corruption and related acts and addresses preventive measures, law enforcement, international cooperation, asset recovery, technical assistance and information exchange. The date of its signing in 2003—December 9th—is now celebrated as International Anti-Corruption Day.

ANTI-MONEY LAUNDERING: THE BASICS Installment 5: Tax Advice

Tax advice is one of the most common services that accountants provide, so they must be aware of and alert to the multiple ways in which tax services may be vulnerable to money laundering. Tax structuring could be used to hide criminal proceeds, or to evade tax on legitimate income. Accountants providing tax compliance services may become aware of clients seeking to misrepresent their true earnings or assets.

Building an effective Anti-Money Laundering ecosystem

From reactive to proactive and preventive AML risk management.

How dirty money is putting Canada’s CPAs at risk

As the battle against the global scourge of money laundering rages on, the role of the profession in the fight is as vital as ever.

New rules make knowing your client even more important for CPAs

Recent changes to strengthen Canada’s anti-money laundering regime increase requirements for accountants and accounting firms to know who they are dealing with, and why?