Another Canadian Liberal Party legacy we all have to live with. “We” meaning the entire free world. Of course as even hardened liberal-lefties are learning, the liberal-left in this country doesn’t stand up for Canada much less “the free world” —quite the contrary. This is why we vote for forward-thinking conservative-minded governments.
Canada a key cash conduit for terrorists
Terrorist groups funneled an estimated $256 million through Canada this past year, the federal anti-money laundering agency said in a report to Parliament Wednesday.
The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) said it had detected up to 34 suspected terrorist-financing networks operating in the country.
The quarter of a billion in blood money they allegedly moved in the year ending March 31 was up from last year’s total of $180 million and the $70 million detected in 2004.
An additional $4.75 billion was laundered by crime groups in Canada during the same period, an increase from $2 billion in 2005, the report said.
The Conservative government pledged in July to spend $5 billion over the next five years to beef up Canada’s fight against terror financing and money laundering.
‘‘Canada’s new government will be relentless in its efforts to combat money-laundering and terrorism financing,’’ Finance Minister Jim Flaherty said in a statement Wednesday.
We do realize that the Liberals had lots and lots of money laundering to take care of recently, so maybe they were too busy to deal with that terrorist laundry.
The federal government has introduced legislation to toughen laws on money laundering and terror financing, and give more teeth to the agency that monitors suspicious money movements.
The bill, if passed, would extend the reach of the Financial Transactions and Reports Analysis Centre of Canada, better known as Fintrac. It would strengthen “know your client” standards, extend Fintrac’s reach to money service businesses which wire money or issue travellers cheques, increase requirements for compliance, monitoring and enforcement, and expand Fintrac’s intelligence role.
It would also mean that banks, insurance companies, securities dealers and money service businesses would be required to identify and monitor the transactions of foreign nationals and their immediate family who hold prominent public positions.
They would also have to report people who even attempt suspicious transactions.
Liberals are incapable of getting much right.
PTBC was founded by Mr. Johannesen in 2000.
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