Skip to main content

Featured

Canada’s Job Market Gains Momentum as Unemployment Drops to 6.5%

  I n October, Canada gained 66,600 jobs and the unemployment rate dropped 0.2 percentage points to 6.9 per cent.  Canada’s labour market showed renewed strength in November , with the unemployment rate falling to 6.5% as the economy added 53,000 jobs . This marks a positive shift after months of slower employment growth, suggesting resilience despite global economic uncertainties. Key Highlights: Unemployment Rate: Down to 6.5%, the lowest in several months. Job Creation: 53,000 new positions added, driven largely by full-time employment. Sector Growth: Gains were seen in professional services, healthcare, and construction, reflecting strong demand across diverse industries. Regional Trends: Ontario and British Columbia led the way in job creation, while some provinces experienced more modest growth. Economic Context: Analysts note that the increase in employment could ease concerns about consumer spending and economic slowdown. However, wage pressures and infla...
Post a Comment
Read more

article

Labels

Money Laundering and How to Protect Yourself from It

 


Money laundering is the illegal process of making large amounts of money generated by criminal activity, such as drug trafficking or terrorist funding, appear to have come from a legitimate source. The process of laundering money typically involves three steps: placement, layering, and integration. There are many ways to launder money, from the simple to the very complex. One of the most common techniques is to use a legitimate, cash-based business owned by a criminal organization. For example, if the organization owns a restaurant, it might inflate the daily cash receipts to funnel illegal cash through the restaurant and into the restaurant’s bank account. After that, the funds can be withdrawn as needed. These types of businesses are often referred to as “fronts”.

To prevent money laundering, most financial companies today have anti-money-laundering (AML) policies in place. The prevention of money laundering has become an international effort and now includes terrorist funding among its targets. Banks are required to report large cash transactions and other suspicious activities that might be signs of money laundering.

If you want to protect yourself from money laundering, here are some tips:

  • Be wary of unsolicited emails or phone calls asking for personal information or money.
  • Do not share your personal information with anyone you do not know or trust.
  • Be cautious when investing in new or unfamiliar financial products.
  • Keep your financial information secure and monitor your accounts regularly.
  • If you suspect that you have been a victim of money laundering, report it to the appropriate authorities immediately.


Labels:

Comments

Post a Comment