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Canada’s OSFI Weighing Review of Offshore Banks in Tax Havens
By Brian Monroe
printCanada's primary regulator of depository institutions is considering launching a thematic review of the anti-money laundering controls of offshore banking affiliates in bank secrecy jurisdictions, an official said Tuesday. The Office of the Superintendent of Financial Institutions (OSFI) could move forward with the initiative in April, said Christine Ring, the director of the agency's anti-money laundering (AML) and counterterrorist financing assessment program, during remarks at the 12th Annual ACAMS AML & Financial Crime Conference in Las Vegas. The potential review would focus on wealth management practices and entail onsite visits and information requests by OSFI officials, said Ring, adding that...
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