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Decentralized Democracy

Member of the panel of chairs for the legislative committees

Hon. Michael Chong

  • Member of Parliament
  • Member of the panel of chairs for the legislative committees
  • Conservative
  • Wellington—Halton Hills
  • Ontario
  • Voting Attendance: 65%
  • Expenses Last Quarter: $120,269.09

  • Government Page
Context: House Hansard - 216 - Jun/19/23
Hon. Michael Chong
  • Jun/19/23 6:46:20 p.m.
  • Watch
Madam Speaker, the member's question allows me to highlight that there is a distinction between tax havens, like the Cayman Islands, which was mentioned, and money laundering. The whole purpose of money laundering is separate and distinct from that of tax havens. The purpose of money laundering is to hide the provenance of the money, and, in particular, to hide the fact that the money was produced illicitly through criminal activity, terrorism or sanctions evasion. With the plethora of sanctions that have been announced by the government and other governments in the last year because of the Russian invasion of Ukraine, it becomes even more important to enforce sanctions, and it starts with having a proper beneficial ownership registry, which this one is not. I am pointing out the holes in this registry so that when we come back in another Parliament, the holes can be fixed and plugged so we can start cracking down on money laundering in this country.
162 words
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