An assessment of money laundering legislation in Canada and the United States

• Main Author: Danis, Caroline
• Format: Others
• Published: 1996
• Online Access: http://spectrum.library.concordia.ca/131/1/MM10837.pdf; Danis, Caroline <http://spectrum.library.concordia.ca/view/creators/Danis=3ACaroline=3A=3A.html> (1996) An assessment of money laundering legislation in Canada and the United States. Masters thesis, Concordia University.

While the seizure and forfeiture of the proceeds of crime is a deterrent for some criminals, in reality, this option is not enough to fight money laundering effectively. This essay will examine the different programs, strategies, laws and regulations concerning money laundering and drug trafficking enacted in Canada and the United States. In addition to defining money laundering, an overview of the structure, that is the methods available to criminals to launder money will be offered. Furthermore, the effects of money laundering on the economy will be touched upon briefly, to have a better understanding of why acting immediately is necessary if our living standards are to the remain the same. Moreover, two case studies will be analyzed to have a better understanding of how the legislation from both Canada and the United States is applied. It will be proven that although Canada and the United States are strongly committed to fighting money laundering, improvements are desperately needed. Solutions such as new legislation, additional resources for law enforcement agencies, education of key individuals, the creation of an international organization or multinational bank regulating the flow of money and its origins and, an increase in cooperation between financial institutions, law enforcement agencies, their respective governments and foreign states will be introduced.