Discover and read the best of Twitter Threads about #endsnowwashing

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An extra segment of debate in the @HoCChamber occurred for Bill #C42 tonight and here's a short thread with my reaction: #cdnpoli #endsnowwashing
Man, we succeeded in branding. Almost every elected official who spoke referred to Canada's AML regime weakness as snow-washing. There was also recognition that 45bn to 113 bn annually is being laundered into #Canada. Our work was heavily referenced by all parties.
On 25% vs 10%: This is better suited for study during the PCMLTFA hearings this summer. Yes, it could be possible to reduce the threshold in the bill, yet there would be a lot of pushback from Canada's business community and by FINTRAC reporting entities. Not worth it.
Read 10 tweets
.@scaldron notes rapid evolution of Public registries landscape over the last 5 years. 🇨🇦 announcement is a big step forward to fight corruption, terrorism financing. Now for a best-in-class approach.
Kevin Comeau concurs, noting the implications for a properly constructed registry for small business, real estate and leveling the playing field for Canadians against invisible hand of money laundering, and create revenue source for fed and provincial govts.
Read 27 tweets

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