Conservative MP Michael Chong says Canada’s lax laws have allowed the country to become a haven for money launderers and those evading sanctions for international crimes. He says a bill currently proposed by the federal government doesn’t go far enough to adequately address the issue.
The Liberals introduced Bill C-42 in March, proposing the creation of a corporate beneficial ownership registry. The registry aims to increase transparency and make it easier to identify corporation owners involved in money laundering, financial crimes, and tax evasion.
