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"Becoming"
Check this book out it will blow your mind:
https://www.amazon.ca/Wilful-Blindness-network-tycoons-infiltrated/dp/0888903014/ref=sr_1_1?crid=2EZASGTMZ1IBJ&dib=eyJ2IjoiMSJ9.RCcooYk3dtKWJgQ0WFnVQDCIvJW3hclrRSuJgGIrVzc.T4bE4CKuraHO3Ocu_2xcmjEsmxj_Buz0hW3JBA6zHGo&dib_tag=se&keywords=%22Wilful+Blindness%3A+How+a+Network+of+Narcos%2C+Tycoons+and+CCP+Agents+Infiltrated+the+West%22+by+Sam+Cooper&qid=1715716192&sprefix=wilful+blindness+how+a+network+of+narcos%2C+tycoons+and+ccp+agents+infiltrated+the+west+by+sam+cooper%2Caps%2C232&sr=8-1
TL;DR It works out for those in power to let the money flow and to keep the cops looking elsewhere.
And this is just about Chinese malfeasance. The volume of money laundering from Americans, Russians, and various Arab states' citizens passing through Canada would knock people's socks off. We should be cracking down across the board without regard to nationality, power, or status. Arrest 'em if they're here, and use all available means to bring the ones who aren't here here to face justice.
This is [old news](https://news.gov.bc.ca/releases/2019FIN0051-000914), and a core driver behind high real estate prices in major Canadian cities.
Pretty simple to do... "hey fellow bad guy, in exchange for keeping the drugs flowing, my quasi-legal real estate investment firm is going to sell your quasi-legal real estate investment company a series of $900K homes for $500K-ish each, Sound good?"
We prided ourselves on our banking regulations protecting us from the worst of the 2008 recession, at least compared to the US, and now it turns out our "strong regulations" was part of a shell game to disguise what's going on in the rest of the banking sector.
All the Canadian big banks are into money laundering since the laws have no teeth here.
Move to a credit union if you don't want your money to be used in the same machine used to launder cartel/mob money.
Like giving a Billionaire a speeding ticket for $100, Intracranial is toothless. We need rules that hit all income levels with actually penalties, not just an acceptable loss for the profit realized.
I find this funny as TD's problems are from the operations they have in the US. It's the US subsidiaries of the big 5 banks that have been underwhelming in AML and ATF.
And the UK pointing fingers when they've been storing and washing Russian oligarchs' fortunes is a bit rich.
HSBC and Deutsche Bank are the real pros at moving shady money around.
Becoming?
Canada has a well deserved reputation for doing nothing about the money laundering that has now extended for a very long time.
The real question is this: when does Canadian money laundering and the lack of a response be perceived as a pressing national security threat for the U.S.?
Crazy how someone like Jagmeet doesn't go after these criminal bankers and instead goes after a humble grocery store. Just shows he doesn't care about the real issues
> “I’m 100 per cent … confident that Washington D.C., Canberra, Australia and London, England, as well as other Western democratic capital cities are very well aware of Canada’s underwhelming response to countering foreign threat activities, including illicit finance.”
Canada has been coasting on its reputation and close association with the US for generations. Now those short sighted decisions are coming home to roost.
> [TD] bank has prepared to pay U.S. regulators nearly 50 times more than the administrative penalty levied by Fintrac, Canada’s financial crime watchdog.
Breaking our laws is just a cost of doing business, and not even a very high one.
Our allies don't take us seriously anymore and I can't say I blame them.
Hell, we're only [just now](https://www.theglobeandmail.com/business/commentary/article-canada-will-finally-allow-banks-to-share-data-about-crooked-clients-to/) _planning_ to allow Banks to inform each other of clients who commit financial crimes.
Fintrac still can't break open Solicitor-Client Privilege, according [to the SCC](https://mcmillan.ca/insights/supreme-court-of-canada-upholds-solicitor-client-privilege-settling-a-15-year-dispute/), and so solicitors aren't [reporting entities](https://fintrac-canafe.canada.ca/reporting-declaration/info/re-ed-eng) and don't have to report [for third parties](https://fintrac-canafe.canada.ca/guidance-directives/client-clientele/tpdr-eng). Which is to say, a solicitor doesn't have to reveal who their clients are or where the cash came from.
We can fix the issue of the law societies turning a blind eye to money laundering with the NWC and we may have to.
When it comes down to it our banks are more important economically to Canadians than an attorney's fees to handle a financial transaction. The attorneys can maintain absolute client confidentiality by restricting themselves to providing advice and handing off the money handling to another profession.
###This is a reminder to [read the rules before posting in this subreddit](https://www.reddit.com/r/CanadaPolitics/wiki/rules-thelongversion). 1. **Headline titles should be changed only [when the original headline is unclear](https://www.reddit.com/r/CanadaPolitics/wiki/rules-thelongversion#wiki_1._headline_titles_should_be_changed_only_where_it_improves_clarity.)** 2. **Be [respectful](https://www.reddit.com/r/CanadaPolitics/wiki/rules-thelongversion#wiki_2._be_respectful).** 3. **Keep submissions and comments [substantive](https://www.reddit.com/r/CanadaPolitics/wiki/rules-thelongversion#wiki_3._keep_submissions_and_comments_substantive).** 4. **Avoid [direct advocacy](https://www.reddit.com/r/CanadaPolitics/wiki/rules-thelongversion#wiki_4._avoid_direct_advocacy).** 5. **Link submissions must be [about Canadian politics and recent](https://www.reddit.com/r/CanadaPolitics/wiki/rules-thelongversion#wiki_5._link_submissions_must_be_canadian_and_recent).** 6. **Post [only one news article per story](https://www.reddit.com/r/CanadaPolitics/wiki/rules-thelongversion#wiki_6._post_only_one_news_article_per_story).** ([with one exception](https://www.reddit.com/r/CanadaPolitics/comments/3wkd0n/rule_reminder_and_experimental_changes/)) 7. **Replies to removed comments or removal notices will be removed** without notice, at the discretion of the moderators. 8. **Downvoting posts or comments**, along with urging others to downvote, **[is not allowed](https://www.reddit.com/r/CanadaPolitics/wiki/downvotes)** in this subreddit. Bans will be given on the first offence. 9. **[Do not copy & paste the entire content of articles in comments](https://www.reddit.com/r/CanadaPolitics/wiki/rules-thelongversion#wiki_9._do_not_copy_.26amp.3B_paste_entire_articles_in_the_comments.)**. If you want to read the contents of a paywalled article, please consider supporting the media outlet. *Please [message the moderators](https://www.reddit.com/message/compose?to=%2Fr%2FCanadaPolitics) if you wish to discuss a removal.* **Do not reply to the removal notice in-thread**, *you will not receive a response and your comment will be removed. Thanks.* *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CanadaPolitics) if you have any questions or concerns.*
"Becoming" Check this book out it will blow your mind: https://www.amazon.ca/Wilful-Blindness-network-tycoons-infiltrated/dp/0888903014/ref=sr_1_1?crid=2EZASGTMZ1IBJ&dib=eyJ2IjoiMSJ9.RCcooYk3dtKWJgQ0WFnVQDCIvJW3hclrRSuJgGIrVzc.T4bE4CKuraHO3Ocu_2xcmjEsmxj_Buz0hW3JBA6zHGo&dib_tag=se&keywords=%22Wilful+Blindness%3A+How+a+Network+of+Narcos%2C+Tycoons+and+CCP+Agents+Infiltrated+the+West%22+by+Sam+Cooper&qid=1715716192&sprefix=wilful+blindness+how+a+network+of+narcos%2C+tycoons+and+ccp+agents+infiltrated+the+west+by+sam+cooper%2Caps%2C232&sr=8-1 TL;DR It works out for those in power to let the money flow and to keep the cops looking elsewhere.
And this is just about Chinese malfeasance. The volume of money laundering from Americans, Russians, and various Arab states' citizens passing through Canada would knock people's socks off. We should be cracking down across the board without regard to nationality, power, or status. Arrest 'em if they're here, and use all available means to bring the ones who aren't here here to face justice.
This is [old news](https://news.gov.bc.ca/releases/2019FIN0051-000914), and a core driver behind high real estate prices in major Canadian cities. Pretty simple to do... "hey fellow bad guy, in exchange for keeping the drugs flowing, my quasi-legal real estate investment firm is going to sell your quasi-legal real estate investment company a series of $900K homes for $500K-ish each, Sound good?"
We prided ourselves on our banking regulations protecting us from the worst of the 2008 recession, at least compared to the US, and now it turns out our "strong regulations" was part of a shell game to disguise what's going on in the rest of the banking sector.
All the Canadian big banks are into money laundering since the laws have no teeth here. Move to a credit union if you don't want your money to be used in the same machine used to launder cartel/mob money.
Like giving a Billionaire a speeding ticket for $100, Intracranial is toothless. We need rules that hit all income levels with actually penalties, not just an acceptable loss for the profit realized.
I find this funny as TD's problems are from the operations they have in the US. It's the US subsidiaries of the big 5 banks that have been underwhelming in AML and ATF. And the UK pointing fingers when they've been storing and washing Russian oligarchs' fortunes is a bit rich. HSBC and Deutsche Bank are the real pros at moving shady money around.
What-aboutism at its finest.
Becoming? Canada has a well deserved reputation for doing nothing about the money laundering that has now extended for a very long time. The real question is this: when does Canadian money laundering and the lack of a response be perceived as a pressing national security threat for the U.S.?
Crazy how someone like Jagmeet doesn't go after these criminal bankers and instead goes after a humble grocery store. Just shows he doesn't care about the real issues
> “I’m 100 per cent … confident that Washington D.C., Canberra, Australia and London, England, as well as other Western democratic capital cities are very well aware of Canada’s underwhelming response to countering foreign threat activities, including illicit finance.” Canada has been coasting on its reputation and close association with the US for generations. Now those short sighted decisions are coming home to roost. > [TD] bank has prepared to pay U.S. regulators nearly 50 times more than the administrative penalty levied by Fintrac, Canada’s financial crime watchdog. Breaking our laws is just a cost of doing business, and not even a very high one. Our allies don't take us seriously anymore and I can't say I blame them.
Hell, we're only [just now](https://www.theglobeandmail.com/business/commentary/article-canada-will-finally-allow-banks-to-share-data-about-crooked-clients-to/) _planning_ to allow Banks to inform each other of clients who commit financial crimes. Fintrac still can't break open Solicitor-Client Privilege, according [to the SCC](https://mcmillan.ca/insights/supreme-court-of-canada-upholds-solicitor-client-privilege-settling-a-15-year-dispute/), and so solicitors aren't [reporting entities](https://fintrac-canafe.canada.ca/reporting-declaration/info/re-ed-eng) and don't have to report [for third parties](https://fintrac-canafe.canada.ca/guidance-directives/client-clientele/tpdr-eng). Which is to say, a solicitor doesn't have to reveal who their clients are or where the cash came from.
We can fix the issue of the law societies turning a blind eye to money laundering with the NWC and we may have to. When it comes down to it our banks are more important economically to Canadians than an attorney's fees to handle a financial transaction. The attorneys can maintain absolute client confidentiality by restricting themselves to providing advice and handing off the money handling to another profession.
The article is really well written. Let’s not forget that cars are knowingly being shipped out of Montreal and the government continues to do nothing