Canada is increasingly being seen as a money laundering haven: anti-money laundering expert
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- เผยแพร่เมื่อ 5 มิ.ย. 2024
- Canada's penalty regime for money laundering is too low, says Matt McGuire, principal and practice leader at The AML Shop, as he discusses TD facing fines and regulatory investigations over alleged money laundering.
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Canada’s day of reckoning draws nearer
What gonna happen to Canada lil man?
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If only
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TD hahaha. This is a bank that recorded my cash deposit as a withdrawl.
Just when you thought Freeland was the dumbest person running finance in a high position OSFI has for years been yelling 'hold my beer!'
Gasoline prices are Not determined by crude oil prices.
Its decided by price-fixing between refineries via 'co-producer agreements'.
Its so bad my ex partner got accidentally caught up in one such scheme a few years ago trying to job hunt. She was essentially paid to transfer money abroad, when she found out what they were doing she stopped, reported it, and was rewarded with her accounts being frozen due to a fraud complaint from the launderers.
I gave Trudeau the benefit of the doubt back in 2015. I figured we should give him a chance but he has been a horrible Prime Minister. If he isn't kicked out soon than Canada will be too far gone. This is coming from someone who use to vote Liberal/NDP
Way to go…YOU voted for him.
I'm glad you see him for the evil person he is finally.
Increasing? It’s always been since the 2000s. Money laundering heaven.
Exactly. All these muppets can do is blame the sitting PM but it's been going on for decades. You have a system that allows for unlimited bidding and then wonder how things could go wrong.
@@himura357 JT definitely made it more visible. SH was on board but gave enough carrots for us not to notice. JC period definitely our economy was eroded.
We have the DRUG PRIME MINISTER. What did you expect?
Yep tell me what he’s paid on capital gains with the hundred million swindled tax dollars? That we know about!
Canadians don't care until daddy government tells them what to care about
Yes, regardless of whether that is wrong or right.
He was a good person to have on. Finally not some pandering ceo or economist who says everything is gravu
There was a story in the Vancouver Sun 2 days ago reveling a CRA report. It said that of the top 5% highest priced RE in the GVA, that MOST of it was bought by people who paid less than 16k in income tax.
Very fishy
It’s how your market got detached from local income. Lots and lots of mostly Chinese money buying up real estate.
So much for the foreign buyers ban.
Lol
Canada is a joke on so many levels
What else would you expect from a trashy tabloid like The Vancouver Sun?
@@billferguson1368
Over the last few years the mainstream media has become fluff only.
Van Sun is mainstream media.
For them to run this negative story makes me think it's for real and not misrepresented.
Welcome to Canada. A fucking joke of a country now.
It pays to be a criminal in Canada, little to no consequences
Brampton is the capital of Canindia
Let’s not forget Chinkham and Richiranmond Hill
Brahmapton
Vanchina
@@Chimera2020 You mean the upper middle class area where brown and Chinese live?
Lol money laundering has been a thing from mainland China and HK. The Vancouver model they say
Ban foreign ownership of residential real estate. Now.
Already done
@@egeb , no, there's too many loopholes.
@@sovereignty14 such as?
They can just take PR and own. JT made it easier and if people that have money can easily evade it
@@egeb
Students and temporary residents are exempt from the ban.
Was it not obvious enough when you have house prices in the millions, expensive cars everywhere, monopoly banks. Most Canadians are pretty poor and low investment causing low productivity. Everyone can agree Canada moves at snail pace and spends money like America ...but don't make green Lincoln bills. All talk no action ...Canada eh.
Look at the performance of the SP500 versus the tsx. Trudeau has made a great country into Cuba.
Well said. Right on the nail.
That’s not because of money laundering. That’s because of artificially keeping rates at zero for a decade and then throwing helicopter money. The elite are using money laundering as an excuse to make everyone look away from them.
Thanks to the lieberals party of Canada
What did the Liberals do within their current tenure to make money laundering easier than it was before? Yeah, that’s what I thought. My shoelaces are untied, the Liberals did it.
JT has opened the door to all sorts crime. There's next to no consequences so the risk is worth it
Canada has an honour system where we give one another the benifit of doubt. It's one of the pillars of our democratic society. Unfortunately, there are some bad actors ruining things for the majority. I have no idea how this can be fixed without curtailing some of the rights and freedoms we identify with. Challenging times indeed.
Canada uses Newcomers to pay pensions of old Europeans through tax
Newcomers pay taxes? Doubt it. So no pension paid.
@@mr2_mike Newcomers work, pay tax, and the savings immigrants bring to Canada have been the reason GDP has grown at all despite per capita GDP declining. Canada exploits immigrants while having some weird hubris about inviting them here out of generosity. The facts the Libs and NDP opened the gates far too wide is a separate issue: the entire business model of the country with an ageing population rests on immigration. Look up the data - Canada has never tried to be Japan.
Cry me a river
@@patrickcampbell-pelletier8678 Canada's downhill slide is well worth all it's citizens taking a good weep. Messing up with such a small population, large land mass and large resource base takes a special capability in mediocrity.
I actually have witnesses that they do not pay taxes and actually get a hand out by the federal government to start up their businesses. @@madhukarmurthi9064
We knew that 10 years ago wtf.
Just the way Trudeau likes it
"Do Canadians just not care about money laundering?" - Ughhh, how much mental bandwidth is the average Canadian supposed to have, not only to be aware of this and 15 other very important things, but then to also monitor and protest it as well. It's not Canadian citizen's jobs to track and crack down on the money laundering that our own government seems to be looking the other way on. No one birth rates are plummeting. It's not easy to decide to willingly subject ones unborn children to a future that is objectively going to be worse off down the road than it was in the days past.
Anyone should be able to look up a number company and see who is behind the company!
You can in Quebec. Google CIDREQ.
IMO No One has a clue on where the Massive flood of money leaving Canada is going.
Your tax dollars hard at work.
here in Toronto, Canada, during the peak of the pandemic it was roughly estimated that 30% of our real estate was being used to launder dirty money....never mind the stuff that goes on in Vancouver
Country with highest money laundering has highest house prices and inflation. Example: Pakistan
For years, duffel bags full of cash were literally being brought into BC casinos and then the washed money is used to purchase real estate.
Decades dude. Decades
About damn time this is being taken more seriously.
Thank you, Mr. McGuire, for doing what you do.
Hey bnn, talk to Sam Cooper on money laundering. Who edited the beginning of this video?
Such low fines make it irresponsible to *not* be laundering money.
Crime pays in Canada
The penalties here are so incredibly weak, especially after the Liberal criminal code revision.
Yep and the biggest criminal organization can’t even tell us where our tax dollars went???? Banks are all seemingly loosing money at every turn
So what about the other banks?
Shall we quit our low paying jobs and protest? If money laundering increases housing prices, our vile government will support it to share a profit with their developer and large landlord friends.
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How about Real estate?
Could this anti-money laundrring expert be another CBDC dystopian nightmare pusher.... 🤔
I thought the exact same thing.
More incompetence
Canada has a very little to no supervision on bringing in offshore wealth. It makes it more difficult for the Canadians to compete with black money acquired illegally from the third world countries.
Canada is already become La La Land
I wonder if Chinese $$$ is entering Canada?
it was, once borrowing rules in china got stricter the money taps stopped flowing over here, and once the interest rates here went up the money already here stopped getting leveraged like it did over there.
@@butwhytharum there’s a book called willful blindness that details how they get around moving more money than allowed outside of the country. It’s still happening just less so than before because China’s real estate market has been crashing and they need to bring money back to prop things up.
Lol thats how housing skyrocketed. Look at Cullen Commission for example
I should have been a drug dealer. damn.
Some of these things these guys say is crazy not letting you get different banks never knew I had to ask the Draconian masters
Without including Morgan Stanley's issues this segment seems worthless.
BAU
Liberal apathy is the hallmark of Trudeau's tenure! FJT
You keep on banking and mind your own damn business
Is that how Trudeau increases his personal wealth so much ?
EMHSG20/5/6/6
What nonsense.