Canada Cracks Down on Professional Service Providers Facilitating Crime

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Canada’s Federal Budget for 2019 was just released and its main agenda is to focus on criminalising the activities of profit shifting by service providers and advisors on behalf of another individual, entity or organisation.

These kinds of transfers will become unlawful if the activity is carried out by an expert whilst being aware that there is a risk that the stipulated activity could become proceed of money laundering, and continuing with that activity or transfer in spite of the risk. The Canadian government promises to crack down on negligent service providers who fail to report any suspicious activities.