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Provinces Struggle with Money Laundering Convictions
Money laundering is clearly a big issues province-wide across Canada. B.C. has borne the brunt of it, but it’s clear that this is a problem that has to be addressed. The problems of money laundering have been well-documented over the past year or so, and the government seems to be trying everything in a bid to attempt to quell this problem as much as possible.
It seems that there are plenty of other problems too, that will not go away. For instance, it seems as though provinces are struggling to get convictions in money laundering cases. Between 2000 and 2016, it seems more than 800 cases of money laundering resulted in no convictions, whilst only 321 actually saw a guilty verdict. There could be a number of reasons behind this, and forensic accountant Matt McGuire suggests, “It’s quite clear the system isn’t working. It’s mind-boggling.”
The faster our casinos are cleaned up and the spread of money laundering is stopped, the better it will be for the future, and for the economy. Now, there are concerns about why this sort of criminal activity seems to be so hard to get a conviction for. And this is something that the government needs to look at for the future. There could be a lot of issues that might impact this, and it is sometimes important to look deeper at the problems we might be facing within the country.
Hopefully, 2019 will be the year we see some serious inroads made into the issue of money laundering, as well as what can be done to get a better handle on the situation. Organised crime has been an issue province-wide, and the sooner this is tackled the better it will be for everyone.