Victory of Canada’s Liberal Party Could Mean Tweaks to Financial Crime Rules

By Ian Harvey

The election last week of a new Canadian prime minister could translate into a tougher tack on money laundering, terrorist financing and other financial crimes, according to compliance professionals. On Monday, voters handed the nation's Liberal Party a 184-seat majority in Canada's 338-member House of Commons, clearing the way for Justin Trudeau to replace Prime Minister Stephen Harper. Trudeau will take office as the Canadian government hones several compliance-related measures and prepares for the nation's next evaluation by the Financial Action Task Force (FATF). The measures-some finalized, others still under debate-address the scrutiny of accounts held for domestic politicians, funding...