OTTAWA – POLITICS – Finance Minister Chrystia Freeland has raised concerns regarding Wealth One Bank of Canada’s potential susceptibility to Chinese government coercion. This is in response to allegations that have been brought forward by other Canadian financial institutions regarding money laundering by the bank’s founding shareholders.
According to reports, Freeland sent a letter to these individuals in late 2022 outlining these concerns.
Further to this, Wealth One Bank and its principal shareholders have been under investigation by the Canadian Security Intelligence Service since 2021 on national-security grounds.
Officials in the federal Finance Department responsible for national security are also currently investigating the matter, according to the same sources.
Given the serious nature of these allegations, it is imperative that the appropriate authorities continue their investigations to determine the veracity of these claims. Any potential national security threats must be taken seriously, and action must be taken to ensure the protection of Canadian citizens and the integrity of the Canadian financial system.