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MSBs in Canada Vulnerable to Laundering, Terrorist Financing, Says Former RCMP Officer
printIn the world of financial compliance, Canada "talks a good game" but does little to enforce counter-terrorism financing and anti-money laundering regulations, according to Chris Mathers, founder of chrismathers inc., a Toronto-based consultancy. At particular risk is Canada's money services businesses (MSB) industry, which is prone to abuse by criminals taking advantage of regulatory gaps, said Mathers. And the Sri Lankan separatist group the Tamil Tigers, widely deemed a terrorist organization, has also been a compliance concern in Canada, where many of the group's sympathizers reside, he said. Mathers, a former undercover agent for the Royal Canadian Mounted Police (RCMP),...
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