INTRODUCTION AND BRIEF DESCRIPTION
The import or export of any property obtained by illegal means is prohibited in Canada.
SECTION WORDING
355.3 The importation into Canada or exportation from Canada of any property or thing or any proceeds of any property or thing is prohibited if all or part of the property, thing or proceeds was obtained by or derived directly or indirectly from (a) the commission in Canada of an offence punishable by indictment; or (b) an act or omission anywhere that, if it had occurred in Canada, would have constituted an offence punishable by indictment.
EXPLANATION
Section 355.3 of the Criminal Code of Canada prohibits the importation or exportation of any property, thing, or proceeds that were obtained directly or indirectly from the commission of an offence punishable by indictment in Canada, or from an act or omission anywhere that would have constituted an offence punishable by indictment if it had occurred in Canada. This section is aimed at preventing the transfer of crime-related property or proceeds between Canada and other countries. It targets those who seek to profit from criminal activities, such as drug trafficking, money laundering, and organized crime. By prohibiting the importation or exportation of such property or proceeds, this section aims to prevent the proceeds of crime from being used to further criminal activities. This section serves a two-fold purpose: to prevent the transfer of crime-related property and proceeds and to provide law enforcement agencies with a powerful tool for investigating and prosecuting organized crime. It allows authorities to seize and forfeit any property or proceeds that were obtained through criminal activities, thus disrupting the operations of organized crime groups and deterring others from engaging in similar illegal activities. In summary, Section 355.3 of the Criminal Code of Canada is an essential tool in Canada's fight against organized crime and is aimed at preventing the transfer of property and proceeds obtained through criminal activities.
COMMENTARY
Section 355.3 of the Criminal Code of Canada is a law enacted to prevent individuals or entities from importing or exporting any property or proceeds of any property that came into their possession or ownership directly or indirectly through an illegal or criminal act. This law applies to any offense that is punishable by an indictment in Canada or any act or omission that is tantamount to an indictable offense; a criminal offense that is punishable by a maximum prison term of five years or more. The primary purpose of Section 355.3 is to curb the activities of criminals who use the proceeds of criminal activities in Canada to finance their illegal operations abroad or to funnel illicit funds to other entities overseas. The law prohibits the movement of any property, thing, or proceeds of crime and imposes a heavy penalty on those who breach the provision. The prohibition extends to individuals, corporate entities, and organizations that may facilitate the movement of illicit property outside of Canada for a fee or commission. Section 355.3 of the Criminal Code of Canada is essential in combating transnational crime and preventing the financing of criminal activities by Canadian individuals or entities. Many organized criminal groups operate across borders, and the proceeds of their illegal activities are often circulated internationally to fund other criminal operations or legitimate businesses. The law aims to disrupt these illegal activities by prohibiting the movement of any property derived from illegal activity outside of Canada. Moreover, the law serves as a potent tool for law enforcement agencies to investigate and prosecute individuals or organizations involved in transnational crime. Section 355.3 enables law enforcement agencies to seize the proceeds of crime and prevent the movement of such proceeds outside of Canada. This can aid in investigations and contribute to a successful prosecution by cutting off the flow of illicit funds and limiting the ability of criminals to operate on a larger scale. The law also provides for rigorous penalties for individuals or entities who breach the prohibition, ensuring that it acts as a significant deterrent against the movement of illicit funds. Any person who violates the law can face heavy fines and imprisonment for up to ten years or both. The stringent penalty underscores the gravity attached to the prohibition and serves as a warning to those who may contemplate violating the provision. In conclusion, Section 355.3 of the Criminal Code of Canada is a vital provision in the fight against transnational crime. The law serves to prevent the movement of any property or proceeds of crime derived from illegal activities, curbing the financing of criminal enterprises. The provision also provides an essential tool for law enforcement agencies to disrupt criminal activities and prosecute individuals or entities involved in transnational crime.
STRATEGY
Section 355.3 of the Criminal Code of Canada is an important legislation that prohibits the importation or exportation of any property, proceeds, or thing derived from or obtained through a criminal offence punishable by indictment. As a result, navigating the legislation requires strategic considerations when dealing with it. One of the primary strategic considerations when dealing with section 355.3 of the Criminal Code of Canada is ensuring that businesses and individuals conduct regular due diligence. This is because it is necessary to ensure that any property or proceeds one is importing or exporting do not originate from or obtained through an unlawful means. Due diligence measures can include extensive record-keeping, employee screening procedures, and internal audits to detect and prevent any form of criminal activity. Another vital strategy that can be employed when dealing with section 355.3 of the Criminal Code of Canada is risk assessment. Companies can assess the potential risks associated with importing or exporting any property or proceeds by examining the country of origin, the type of business, the transaction's value, the transaction's purpose, and the parties involved. Additionally, they can design compliance programs explicitly tailored to mitigate those risks. Another strategy that can be employed is the implementation of a strong anti-money laundering program. Anti-money laundering policies and measures are designed to prevent and detect any money laundering activities in the company's operations. This can include policies such as a know-your-customer (KYC) policy, enhanced due diligence, transaction monitoring, and suspicious transaction reporting. Moreover, it is essential to create a culture of compliance and transparency within the organization and position it as a top priority. Educating employees on the regulations, creating a reporting mechanism to report potential violations, and ensuring that anyone involved in importing or exporting property understands their obligations under section 355.3 of the Criminal Code of Canada are some ways to create such a culture. Finally, it is also essential to work with legal professionals in navigating the section 355.3 of the Criminal Code of Canada. A legal counsel will guide you through your obligations under the law and provide guidance on the suitable strategies to adopt to avoid violating the law. In conclusion, section 355.3 of the Criminal Code of Canada carries significant implications for businesses and individuals involved in importing or exporting property. Compliance with the law requires strategic considerations, including regular due diligence, risk assessments, anti-money laundering programs, creating a culture of compliance, and working with legal counsel. Adherence to these strategies will ensure that one does not run afoul of the law.