MNP LLP Anti-Money Laundering Compliance Blog

Monthly Archives: March 2010

Border Smuggling Worries Threaten Tighter Regulation of Stored Value Cards

By Matthew McGuire | March 23rd, 2010
By Smita Bahadur According to investigators, the U.S. Treasury Department compliance rules on how companies should treat stored valued cards could be molded by concerns arising from drug cartel money smuggling. As part of the Treasury Department, the Financial Crimes Enforcement Network (FinCEN) is expected to recommend, under the Credit Card Accountability, Responsibility and Disclosure [...]
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Canada’s Role in Anti-Bribery Compliance

By Matthew McGuire | March 19th, 2010
Readers of this blog will have noticed an increase in the number and severity of bribery and corruption cases involving Canadians and others exploiting our financial system.  Canada is a signatory to the Organisation for Economic Co-operation and Development’s (OECD’s) Anti-Bribery Convention.  Representatives from all 38 member-nations recently covened a working group on bribery, where states and companies were challenged [...]
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Canada’s 2010 Budget: Paving the Way for Cross-Border Credit Unions

By Matthew McGuire | March 17th, 2010
In their budget released March 4, 2010, the Canadian Government announced the introduction of a legislative framework to enable credit unions to incorporate and continue their operations as federal entities.  Currently, credit union operations are constrained by provincial boundaries, however, some credit unions have already incorporated Schedule I banks as subsidiairies to provide extra provincial clients.  Federal [...]
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