Canada is apparently luring hundreds of mafiosi, kleptocrats, cartel chiefs and corrupt exiles to this country thanks to its failure to tackle money laundering.
It’s seemingly one of the most financially secret countries in the world and a large part of the supposed cure — more intrusive and wider law-enforcement surveillance powers — will require a radical rethink of privacy rights.
“It’s a similar thing with the offshore world and global financial crime,” Cockfield told the commission. “We have very strict privacy protections. They greatly inhibit federal government agencies with sharing information, metadata information or personal information with provincial authorities or other federal agencies, and again the outcome of this regime is the beneficiaries are crooks and sometimes, well, crooks who happen to be — have legitimate income, they’re millionaires or billionaires and are moving their money offshore and hiding it and they have been for generations.”
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