On March 20, 2019, the Canadian government published a budget plan for 2019, titled "Investing in the Middle Class". The plan proposes to modernise the country's anti-money laundering and counter-terrorism financing (AML/CTF) framework and enhance financial intelligence and information sharing to identify and meet evolving threats.
By strengthening Canada’s AML/CTF regime and tax evasion, the government hopes that Canadians will have a more safe, secure and better quality of life, and it will provide stability to the financial sector and the broader economy. These plans are a result of growing concerns that illicit funds are finding their way into the economy through channels on which millions of Canadians rely.
The government proposes to:
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