Canada government to introduce terrorist financing bill

[JURIST] The Canadian government intends to introduce new anti-terror legislation this fall that would fight money laundering and the financing of terrorism, particularly in the area of diamond sales, the Globe and Mail reported Thursday. The legislation is expected to incorporate the recommendations of a government consultation paper [materials] published last year that suggests that Canadian precious stone and gold dealers should be subject to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act [PDF text]. The new bill could require dealers to report any large or suspicious transactions and would enhance record-keeping and client identification mechanisms, which are already required of real estate brokers, financial lenders, and insurers.

The plan to move on the consultation paper recommendations follows on the heels of Friday's arrests [JURIST report] of seventeen suspects later charged [charge sheet] with a range of terrorism-related offenses relating to alleged plans to attack targets in southern Ontario and Toronto. The Globe and Mail has more.

 

About Paper Chase

Paper Chase is JURIST's real-time legal news service, powered by a team of 30 law student reporters and editors led by law professor Bernard Hibbitts at the University of Pittsburgh School of Law. As an educational service, Paper Chase is dedicated to presenting important legal news and materials rapidly, objectively and intelligibly in an accessible format.

© Copyright JURIST Legal News and Research Services, Inc., 2013.