Nov 27, 2015
Canada may be starting to get tough on fraud. Shedding the image of a country that’s soft on white-collar corruption, government initiatives point to a clean-up, and an increasing focus on compliance. An article by Paul McLaughlin, which appeared in a Lexpert Special Edition on Litigation in November 2015, examines the changing face of anti-fraud measures in Canada – and worldwide. The article highlights Public Works and Government Services Canada’s integrity regime guidelines, which have met with ongoing opposition. Also mentioned is the Extractive Sector Transparency Measures Act (ESTMA), requiring transparency on both domestic and foreign payments of over $100,000 a year. At home, regulators are becoming more proactive, making white-collar fraud a high priority. There also seems to be a rise in prosecutions under the Competition Act. Although some question Canada’s ability to enforce anti-fraud measures, the article concludes that Canadian companies would be wise to ensure that they have effective compliance programs in place.
Anti-corruption expert, Riyaz Dattu, a partner in Osler’s Corporate Group, advises multinational and domestic businesses on anti-corruption and compliance policy. Riyaz points to significant changes that have been taking place over a short period of time, “Internationally, particularly governments that are members of the OECD (Organisation for Economic Co-operation and Development), continue to increase the bar on business conduct, and are following through with enforcement and high penalties against not only corporations but also executives of businesses. Even countries such as China, India and Brazil are joining in on these international initiatives. There has been an almost universal sea change in a matter of just five years.”
Read the full article, “White-Collar Crime in Canada” in Lexpert Special Edition – Litigation.