CRM 324 Lecture Notes - Lecture 3: Terrorism Financing, Financial Action Task Force On Money Laundering, Requirement
26 Oct 2017
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Amendment of the criminal code, and the pcmltfa (terrorist financing act) Anand very cleary said that very little research have been done in efficacy of the law. 83. 02 imposes prohibitions on providing or collecting property to carry out terrorist activity. 83. 03 offence for any person who directly or indirectly collects, provides or makes available property for terrorism purposes. 83. 04 offence to use or possess property for terrorist purposes. Can establish a list of people who knowingly carried out, facilitated or attempted terror activity. 83. 11(1) certain financial institutions must determine and report on a monthly basis whether they are in possession of terrorist property or funds. There is good amount of overlap between this piece of legislation and the code, and suggests that this area of la(cid:449) (cid:272)o(cid:374)tai(cid:374)s redu(cid:374)da(cid:374)(cid:272)ies, (cid:862)o(cid:448)er-regulated(cid:863). Differe(cid:374)t sets of la(cid:449) that are (cid:271)oth aimed at the same things. Key similarities: both contain reporting requirement, provisions that are aimed to address money laundering.
