CANADIAN ANTI-MONEY LAUNDERING REGULATIONS

Canada’s first attempt to deal with money laundering through regulation dates as far back as 1976 when the Criminal Code was amended to include a section regarding the possession of the proceeds of crime. The amendment enlarged the scope of the legislation to make the possession of the fruits of criminal acts, whether committed in Canada or not, a punishable offence, thus providing enforcement agencies with a potent weapon against organized crime.