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A new, federal agency focused exclusively on tackling illicit finance represents Canada's best hope of improving perennially low rates of money laundering-related investigations, prosecutions and asset seizures, sources told ACAMS moneylaundering.com. Canada "must prioritize and provide dedicated resources and expertise towards pursuing complex money laundering investigations," the country's Finance Department concluded in a 91-page consultation this month. Banks and other parties must submit any responses they may have to the plan by Aug. 1, after which lawmakers will begin drafting the required legislation. But the government must determine how the envisioned Canada Financial Crime Agency, which officials first proposed two...