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Charities at risk

Thursday, December 08, 2016 @ 7:00 PM | By Terrance Carter and Nancy Claridge

The Financial Action Task Force (FATF) released its 2016 mutual evaluation report on Canada’s anti-money laundering and counter-terrorist financing measures on Sept. 15. The report said that while Canada accords priority to pursuing terrorist financing activities, the monitoring of Canada’s 180,000 non-profit organizations (NPOs), including approximately 86,000 registered charities, by the Canada Revenue Agency (CRA) “does not reflect the terrorist financing risks.”

The report examines Canada’s anti-money laundering and counter-terrorist financing measures for compliance with the FATF, following an on-site visit from Nov. 3-20, 2015. This...