Canada strengthens its AML Framework with new reporting requirements, expanded AML/CTF obligations, increased intelligence sharing and tighter border controls 

New regulatory measures will bolster Canada Border Services Agency’s powers to combat trade-based financial crime, establish a framework for private institutions to share information on ML/TF and sanctions evasion, require reporting of discrepancies between private institution data and Canada’s federal beneficial ownership registry, extend AML/ATF obligations to factoring companies, cheque cashing businesses, and financing/leasing firms to close regulatory gaps…