Major funding blow
By Walter Jayawardhana
Canada, which has increasingly become a fertile ground for
supplying funds for the LTTE has announced new laws to combat
money laundering and financing terrorist activities.
“Canada’s government will be relentless in its efforts to
prevent money laundering and terrorist” funding, said Jim
Flaherty, the country’s Finance Minister announcing the new
regulations to fight terrorism.
The LTTE, an organization that flourished under the former
Liberal government of Canada is a proscribed terrorist
organization under the new conservative government but the LTTE
is allegedly funding and engaging in money laundering for Sri
Lanka‘s terrorism, operating under varied front organizations.
The new regulations are expected to combat, the LTTE, Al-Queda
and other terrorist organizations banned under Canadian law.
“We are taking an international leadership role to combat money
laundering and terrorist financing by devoting substantial new
funding to bolster our analytic, investigative and prosecution
resources,” the Finance Minister further added.
Under the new regulations that were also published in the Canada
Gazette Part 11 on June 27 all attempted suspicious transactions
have to be reported to the government.
Under the new measures introduced enhanced information sharing
among Financial Transactions and Reports Analysis Center of
Canada (FINTRAC) law enforcement agencies and other domestic and
international agencies will be established.