money laundering law

B.C. to ask Ottawa for money laundering law changes after case fails to yield charges

British Columbia`s legal professional widespread says she can be able to foyer the federal authorities to amend Canada`s economic crime regulation after a multi-yr cash laundering research with the aid of using police did not produce any costs.

Niki Sharma says B.C. will ask for adjustments to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act to convey Canadian regulation into concord with america and United Kingdom.

She says the rush comes after Wednesday`s “frustrating” assertion from B.C.`s prosecution provider that no costs could be laid withinside the police research into hundreds of thousands of greenbacks that moved via British Columbia casinos and Chinese financial institution accounts.

Special prosecutor Chris Considine issued what’s called a “clean assertion” wherein he counseled towards costs and counseled federal regulation amendments to higher help laundering cases.
The E-Nationalize research started in 2016 and concluded in 2021 with police presenting 8 costs towards Paul King Jin of Richmond, B.C., however Considine stated conviction become unlikely.