Banking, Trade and Commerce – March 1, 2012

In Committee from the Senate of Canada

Banking, Trade and Commerce – March 1, 2012

Privacy Commissioner Jennifer Stoddart testified as part of the committee’s five-year Parliamentary review of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act. The commissioner commented on some of her office’s concerns with the Act, the most significant of which was the difficulty of assessing the necessity and effectiveness of the measures put in place. Mike Fagan, the office’s audit and review manager, also responded to questions from senators. The last review of the Act was conducted in 2006.