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This section deals with issues relating to anti-money laundering and what CAs need to do know to comply with obligations imposed under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA). Canada's solicitor general estimates that between $5 billion and $17 billion is laundered in Canada every year. Worldwide, this amount could vary between US$590 billion and $1.5 trillion annually, according to the International Monetary Fund. Criminals have developed countless schemes to try to legitimize the proceeds of their crimes, but the most successful need the help of legal and accounting professionals. Visit the CICA's Online Anti-Money Laundering Resource Centre. |
