B.C., feds struggle to close money laundering loophole

Lawyers cite solicitor-client privilege in opposing efforts to compel them to report suspicious transactions

House Canadian cash money

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

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