News

Black-market tobacco, market fraud, bribery and the exploitation by criminal networks of third-party professionals are among the biggest threats to Canada's efforts to fight money laundering, according to a national report. The assessment, issued last week by the Department of Finance, precedes Canada's next mutual evaluation by the Financial Action Task Force (FATF), scheduled to begin by November. The intergovernmental group in 2012 called on member-states to draft reports on their vulnerabilities to money laundering and terrorism financing ahead of the reviews. In highlighting the issue of tobacco smuggling and trafficking, department officials pinpointed the Mohawk First Nation reserves straddling...