Jonathan Cooperman comments in CBC Investigates | Stop being a ‘safe haven’: How Canada could do a better job keeping ‘dirty money’ out of the country. In a scheme that saw $2 million dollars of illegal funds sent to a network of individuals and companies, Cooperman maintains that better controls must be put into place to ensure corporate accountability.
Cooperman points out that Canada’s stable economy and hot housing market make real estate an intriguing and ideal place for criminals to park their corrupt money; and since Canada doesn’t have the same reputation as other safe havens, it’s making it easier for criminals to use Canada as a conduit for their activities.
The Toronto-based forensic accountant goes on to explain, “Law enforcement would be a lot happier if we were able to find out who the true beneficial owner is … and get true answers on who’s behind the flow of money.” In other words, Canada’s murky corporate registry system needs to be reassessed so that the real owners of these anonymous corporations can be revealed and held accountable.
Jonathan Cooperman is a Partner at Farber and is the Leader of the Fraud, Forensics & Asset Recovery and Litigation Support practice. His practice focuses on fraud investigations, forensic accounting, and asset recovery, particularly in uncovering and recovering assets for victims of fraud around the world. Jonathan can be reached at 416.496.3702 and email@example.com