Criminal Financing Act

The Criminal Financing Act refers to laws designed to prevent individuals from secretly providing money to support illegal activities, such as terrorism or organized crime. It requires financial institutions and certain entities to identify, report, and prevent suspicious transactions that could be linked to criminal conduct. The aim is to make it harder for criminals to move or hide illicit funds, thereby disrupting their operations and ensuring financial systems are not misused for illegal purposes. This legislation promotes transparency and accountability within financial transactions to protect society from criminal enterprises.