Category: Latest Insights

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Will that be cash, credit or bitcoin? The pros and cons of digital currency

September 23, 2015

Whether buying or selling, cryptocurrencies may change the way monetary transactions are conducted. Also known as digital or virtual currencies, cryptocurrencies are a unique peer-to-peer system that transfers monetary value without the exchange of physical coins or bank notes. There are many different types of cryptocurrencies available, but how they work depends on the platform that is being used. The…

How to Navigate the Law When Doing Business in Canada

September 23, 2015

Canada has weathered the recent period of international uncertainty and volatility better than most other advanced industrialized nations. It is among the world’s leading industrialized nations and is home to some of the globe’s most innovative and largest businesses. Canada has a highly skilled workforce and is a world leader in a variety of sectors, including manufacturing, high technology, energy,…

Hacked: Responding to a Cybersecurity Breach

September 22, 2015

Data breaches now represent significant litigation risks. Here are some important steps to take when your company falls victim. Cybersecurity has become a top-of-mind concern for senior C-suite executives — and it’s no surprise why, as recent data breaches against some major organizations have gained significant profile. Thus, senior executives and risk managers need to not only focus on preventing a…

Assessment of Inherent Risks of Money Laundering and Terrorist Financing in Canada and Guidance on Risk-Based Approach

August 10, 2015

In preparation for the audit of Canada’s anti-money laundering and terrorist financing regime by the Financial Action Task Force (FATF) in the fall of 2015, the Department of Finance and the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) have been very busy. In that regard, they have each released guidance that is intended to  provide information to reporting…

Amendments to Canada’s Anti-Money Laundering Legislation: What’s New and What’s Next

July 6, 2015

On July 4, 2015, the federal government released amended regulations (Regulations) under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA). While there are some additional regulatory burdens imposed on regulated entities in respect of domestic politically exposed persons (PEPs), and additional components to be considered in risk assessments, many of the proposed changes will be welcomed by…

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