Lawyers cite solicitor-client privilege in opposing efforts to compel them to report suspicious transactions
While criminal money laundering charges against the proprietors of Richmond-based Silver International Ltd. were stayed late last year, court documents filed in mid-February reveal a former suspect in that case is facing a tax evasion investigation and fighting the Canada Revenue Agency (CRA) to keep her banking records secret.
Caixuan Qin filed an application in the Federal Court of Canada to quash CRA requirements to produce banking records from the Bank of Montreal, the Bank of China, the Canadian Imperial Bank of Commerce, Royal Bank of Canada, TD Canada Trust and Canadian Western Bank.
She claims the minister of national revenue is wrongfully seeking the records “for the improper purpose of compelling evidence in relation to the Applicant as part of a criminal investigation.” MORE
Money laundering in British Columbia has become a top issue for the federal and provincial governments with federal Finance Minister Bill Morneau vowing a “crack down” Friday, while the province considers a public inquiry.
“The importance of dealing with money laundering concerns is something that is clearly on our agenda,” said Morneau at a news conference in Victoria. “We need to be very clear, we crack down on any issues around money laundering.”
Last year, an international anti-money laundering organization said in a report that up to $1 billion annually was being filtered through some B.C. casinos by organized crime groups. The B.C. government also cited an RCMP intelligence report that estimated up to $1 billion from the proceeds of crime was used to purchase expensive Metro Vancouver homes. An RCMP official said Friday the Mounties are searching their data bases to find the report the government has cited. MORE