FATF says Canada should work on boosting ML prosecutions, in latest MER

By Keith Nuthall, in Ottawa

The Financial Action Task Force (FATF) has delivered a partly critical assessment of Canada in the country's latest mutual evaluation report, highlighting weaknesses in prosecutions, asset recovery, beneficial ownership (BO) and a continued failure to bring lawyers into its anti-money laundering/combating the financing of terrorism (AML/CFT) regime.