Canada's money-laundering watchdog drafted a document warning the real estate sector to be on guard for "specific ethnic communities" dealing with terrorism and war, before removing the reference at the behest of an industry association, documents show. The draft guidance document was aimed at helping companies meet their obligations to detect money laundering and terrorist financing. Such a reference would constitute a violation of the Human Rights Act, the real estate association said in its letter. Companies in certain sectors — including banks, casinos and real estate firms — are legally required to identify their clients, keep records and report suspicious or large cash transactions to Fintrac. Could result in human rights violation"If this guidance were followed it could result in realtor members being liable for violating human rights law," the letter reads, before going on to cite Sec.

Source: CBC News April 02, 2017 17:48 UTC