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Decentralized Democracy

House Hansard - 203

44th Parl. 1st Sess.
May 31, 2023 02:00PM
Context: House Hansard - 203 - May/31/23
Mr. Tako Van Popta
  • May/31/23 5:04:27 p.m.
  • Watch
  • Re: Bill C-42 
Mr. Speaker, the member's question underlines how complicated it can be to tackle the problem of money laundering. If I understand the question correctly, it relates to money coming into Canada from a foreign corporation that is registered, let us say, in Barbados, which maybe does not have the same transparency rules that we have. However, we have FINTRAC rules, so the money coming in would have to go into a bank, and if it were over a certain amount, the bank would be required to report it according to the FINTRAC rules. It is probably not enough, but we do have something, and this bill is another step in the right direction.
114 words
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