Developing a National Financial Crime Agency: Key Insights from Transparency International Canada’s White Paper

Transparency International (TI) Canada released its white paper on how Canada can develop a national financial crime agency.

The recommendations from the white paper:

"First, TI Canada recommends the government consider extending the scope of ‘financial crime’ within the enforcement mandate of the CFCA to include the predicate crimes which create the impetus for money laundering, including corruption and fraud.

Second, TI Canada recommends that the CFCA be both an enforcement body as well as a coordination body. In examining how a coordination body could work in Canada, this white paper examines the examples of the Australian Criminal Intelligence Commission and the UK National Crime Agency.

Finally, this white paper provides a non-comprehensive list of the agencies responsible for enforcing the legislation targeting the offenses noted in the United Nations Convention on Anti-Corruption."

Is your organization prepared for potential regulatory changes and expanded enforcement powers outlined? Platino Consulting specializes in AML and financial crime compliance, helping businesses stay ahead of evolving regulations. From advisory services to compliance program development, we offer tailored solutions to protect your organization from risks related to fraud, corruption, and money laundering.

Contact us today for a consultation and ensure your business is prepared for Canada's future financial crime enforcement landscape!