“Can you keep a secret?” How 5 different realtors in Canada agreed to launder proceeds of crime from Colombian narcotics activities for a criminal, in a Radio-Canada investigation

Tweet Radio-Canada, the French language version of the CBC, published an explosive investigative story here on March 26, 2020, as part of its Enquête series, where five realtors in Montréal each independently agreed to take proceeds of crime derived from Colombian narcotics activities from a buyer from Panama with a criminal record, on a hidden […]

Reporting suspicious transactions – when do you have reasonable grounds to suspect in law?

Tweet Proceeds of Crime (Money Laundering) and Terrorist Financing Act Under Part 1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA),[1] each person or entity subject to the PCMLTFA is required to report to the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) every financial transaction that occurs and every financial transaction that is attempted […]

Study in China identifies areas in China where most money launderers originate and finds that the number of suspicious activity reports filed does not improve effectiveness

Tweet According to money laundering law empirical research from China, a person from Fujian (the well-known Triad land) is most likely to be a money launderer, and the study also found that the filing of voluminous numbers of suspicious activity reports (SAR), does not lead to improved anti-money laundering results across any sector or in […]

Australian police uncover Bitcoin-related alleged international drug traffickers

Tweet Two Bitcoin-related alleged drug traffickers living large  In the last few months, the Australian Federal Police have arrested two well-known Bitcoin guys suspected of leading secret lives as international drug traffickers. Both alleged to the public that they had real jobs, one operating a digital currency exchange and the other an IT business, but […]

Iranian charged in $6 billion case with disrupting Iran’s economy by moving money for sanctions avoidance, immigrated to Canada

Tweet Updated 2019-04-14 Another Iranian in Canada alleged to owe millions to Iran Marjan Sheikholeslami, an Iranian foreign national, now living in Toronto, Canada, is alleged to have played a major part of a financial crime case with an Iranian petroleum executive, Reza Hamzehlou, and is on trial in absentia in Iran for disrupting Iran’s […]

FinCEN Employee Arrested for Illegally Disclosing SARs

Tweet Arrest of FinCEN employee for SARs disclosure The US government has arrested an employee of FinCEN for providing copies of suspicious activity reports (“SAR”)  to the media. SARs disclosure is illegal  SARs are required to be filed and submitted by certain reporting entities, such as banks, to FinCEN when the bank or its employees, […]

Canadian who was the 3rd largest fentanyl dealer, indicted in the US

Tweet Operation Darkness Falls nets Canadian fentanyl dealer The US DoJ, Department of Homeland Security, the FBI, the US Postal Service and DEA announced several arrests in Operation Darkness Falls, an international operation that sought to ferret out the identities of people selling illegal drugs, especially fentanyl, on the darknet that accepted Bitcoin and other digital […]

35 darknet drug traffickers arrested in the US; $20 million in Bitcoin seized

Tweet Over 35 people were arrested in a US-wide sweep by the US DOJ, DEA, US Secret Service, ICE, HSI and the FBI agents for selling illegal drugs over the darknet and laundering the proceeds of crime using, inter alia, Bitcoin. The operation involved agents posing as digital currency exchanges to obtain personal information of […]

Trial of PEP from Equatorial Guinea for money laundering in France

Tweet Equatorial Guinea trial Teodorin Obiang, the son of the President of Equatorial Guinea, is being prosecuted in France for allegedly laundering the proceeds of corruption in France. Mr. Obiang is also the Vice-President of Equatorial Guinea and is a politically exposed person. His trial is scheduled for June 2017. He is accused of bringing […]