Proposed changes, S-8

S-8 At second reading in the Senate Senate Government Bill

An Act respecting certain measures relating to proceeds of crime, terrorist financing, sanctions evasion and the detection of non-mailable matter transmitted by post

Short title: Combatting Financial Crimes and Drug Trafficking Act

Sponsor: Pierre Moreau, Senator

Proposed changes

Part 1 amends the Proceeds of Crime (Money Laundering) and Terrorist Financing Act to, among other things, (a) prohibit certain entities from accepting cash deposits from third parties and certain persons or entities from accepting cash payments, donations or deposits of $10,000 or more; (b) add new grounds of ineligibility for registration with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC); (c) require persons or entities that are newly registered to provide information to FINTRAC on their activities; (d) add new powers and duties for the Minister of Finance in relation to national security and to safeguarding the integrity of Canada’s financial system…

Part 2 amends the Canada Post Corporation Act to permit the demand, seizure, detention or retention, under the Criminal Code , the Controlled Drugs and Substances Act or the Cannabis Act , of anything that is in the course of post.

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