Professional services key to money laundering machinery

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May 28 2019

A lot of lawyers and accountants in pulp fiction are happy to help criminals turn dirty money into clean cash.

But real-world money laundering is often a case of life imitating art. Part 2 of Peter German’s report on money laundering in B.C. calls out lawyers and accountants for being cogs in B.C.’s money laundering machine. German was not the first to highlight this link.

The Financial Transactions and Reports Analysis Centre of Canada (Fintrac) issued an alert last summer warning of the role financial and professional service providers play in Canada’s intricate money laundering economy.