moved for leave to introduce Bill C-289, An Act to amend the Criminal Code (identity verification).
Madam Speaker, Canada has a money-laundering problem. Experts say it is a $100-billion-a-year industry. This money is fuelling crime across this country and contributing to the increasing cost of real estate by increasing the demand for houses across Canada. International criminals have flocked to Canada because of our weak laws. The Cullen commission report, released just yesterday, is an indictment of Canada’s anti-money laundering regime.
This bill proposes to amend the Criminal Code to give authorities more tools to catch and convict criminals and deter money-laundering activity. This legislation has support from third parties, including Transparency International Canada, Publish What You Pay and the Macdonald-Laurier Institute, and it also addresses a problem identified by the C.D. Howe Institute in a recent memo.
We need to make life more difficult for money launderers and change Canada’s reputation. I am open to amendments and look forward to working with members of all parties and the Senate to pass this bill and other legislation to fight money laundering.
(Motions deemed adopted, bill read the first time and printed)