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Anti-Money Laundering Additional Practice Resources
February 18, 2020
The Federation of Law Societies of Canada, in conjunction with the Anti-Money Laundering and Terrorist Financing Working Group has created Risk Advisories to address the areas of law such as real estate, shell corporations, private lending, trusts and litigation. Each Advisory identifies specific situations and issues that make that area of practice vulnerable to criminals and provides a detailed list of potential client and transaction risks lawyers should be aware of when engaging in the practice of law.
The Working Group has also created Risk Assessment Case Studies to help members become familiar with and learn how to spot red flags, as well as to guide practical responses when faced with situations of possible money laundering. The Group recommends that members review the document periodically, as a preventative measure, to enhance their ability to spot and avoid problems.
For further information, here’s our previous posts on the Law Society’s anti-money laundering Rules.