Canada's laws on money laundering and proceeds of crime: the international context

• Published in: Journal of money laundering control Vol. 7; no. 1; pp. 50 - 60
• Main Author: Murphy, Daniel P
• Format: Journal Article
• Language: English
• Published: London MCB UP Ltd 01.01.2004; Emerald Group Publishing Limited
• Subjects: Bribery; Canada; Confiscation; Cooperation; Councils; Crime; Crime prevention; Currency transactions; Drug crimes; Foreign bank accounts; International cooperation; Law enforcement; Laws and legislation; Legislation; Money laundering; Organized crime; Provisions; Public officials; Racketeering; Regulation; Sovereignty; Canada; Canada; Regulation; International cooperation; Money laundering; Laws and legislation
• ISSN: 1368-5201; 1758-7808
• DOI: 10.1108/13685200410809760

Begins with the Canadian Proceeds of Crime (Money Laundering) Act 1991, which was amended after 2001 into the Proceedings of Crime (Money Laundering) and Terrorism Financing Act. Looks at developments against money laundering in other countries such as the UK and USA; some prominent international measures and conventions include the 1988 United Nations Convention Against Illicit Traffic in Narcotic Drugs and Psychotropic Substances, the 1990 Council of Europe Convention on Laundering, Search, Seizure and Confiscation of the Proceeds of Crime, the Organisation for Economic Cooperation and Development Convention on Combating Bribery of Foreign Public Officials in International Business Transactions, and the Palermo Convention of the United Nations. Mentions also relevant United Nations conventions against terrorism and corruption. Moves on to international standards, mentioning the work of the Basel Committee, the World Bank and the International Monetary Fund. Examines in detail the work of the Financial Action Task Force, which has become the recognised international forum on money laundering matters, and its 40 recommendations.