In the first federal election campaign since the Commission of Inquiry into Money Laundering in B.C. concluded, enforcement of crime in Canada’s regulated financial sectors has taken a back seat, say two experts.
“We need governments and institutions to properly regulate so while there will always be cheaters it is at least kept to a minimum. But with people getting away, not going to jail, not paying major fines for non-compliance — in some cases criminal non-compliance — it erodes people’s trust. And it’s also businesses that have to replenish or go bankrupt,” said Denis Meunier, an anti-money laundering consultant based in Ottawa.
Meunier says the issue of white-collar crime has become particularly
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