Canada's parliament advances bill to create Financial Crimes Agency

13 articles · Updated · The Guardian · Apr 30

The Liberal government introduced the legislation this week and, with a parliamentary majority, is expected to push it through quickly while also banning nearly 4,000 cryptocurrency ATMs.
The FCA would investigate and prosecute financial crime, reducing roles now split between Fintrac and the RCMP after a public inquiry found Canada lagged peers on money laundering.
Fintrac flagged $45bn in suspect transactions last year, but experts and anti-corruption groups say the new agency's effectiveness will depend on funding, coordination and its relationship with existing police bodies.

Is Canada's new $352M agency a real solution, or a costly detour from fixing the RCMP?

With the most crypto ATMs globally, why did Canada choose a total ban over stricter regulation?