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Canada’s Anti-Corruption Rules Raise Efficacy Questions, Says Transparency Advocate
printAlthough Canadian financial institutions have collectively invested millions of dollars to shield themselves from bad actors, little evidence exists that their efforts are paying off, according to Milos Barutciski, a board member of Transparency International Canada. That is unlikely to stop an expected rise in compliance costs, fueled in part by new anti-corruption measures set to take effect in 2016 that will require banks, insurance companies, investment firms, real estate brokers and other covered institutions to identify and more effectively scrutinize political clients, their associates and relatives for as long as 20 years after they have left office. Barutciski, a...
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