Highlights / money laundering

Economy, International, Society

British Columbia inquiry into money laundering- billion dollar ‘industry’

Earlier police investigations into money laundering suggested that in the west coast province, the practice was a multi-billion dollar operation, with estimates as high as $7 billion in 2018. Yesterday the public inquiry heard that Canada’s highly regulated banking system »

Economy, International, Politics, Society

Money laundering in British Columbia: First casinos, now exotic cars

Money laundering definition from the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) : the process used to disguise the source of money or assets derived from criminal activity. There are generally three stages in the process: -Placement: involves »

Arts & Entertainment, International, Society

Huge money-laundering operation in British Columbia alleged

The Attorney-General in the west coast province of British Columbia is expressing surprise and deep concern about reports indicating the province is the scene for astronomical amounts of money laundering. Last year a special report called “Dirty Money” commissioned by »

Environment & Animal Life, Society

Canadian admits money laundering in narwhal smuggling scheme

A retired police officer pleaded guilty to 10 money-laundering charges in the United States yesterday after being convicted and fined in Canada for smuggling narwhal whale tusks. Gregory R. Logan faces up to 20 years in prison and a $500,000 »

Economy, Immigration & Refugees, International, Politics

Chinese money laundering in Canadian real estate?

A new report for the government agency that tracks money laundering says the overly hot real estate market in Canadian cities has a “significant risk”  for criminal activity. In Canada, professionals and businesses are required to report cash transactions of »