Featured Canada

Why millions in undeclared cash flows across the Canadian border each year

Every year, millions of dollars in cash enters and exits Canada stuffed inside envelopes, shirt pockets and bags. But only a tiny fraction is moved by criminals. The rest is transported by average Canadians and visitors who are taking $10,000 or more into or out of the country. Since 2017,… Read More

Dead cryptocurrency chief Gerald Cotten was ‘Ponzi scheme fraudster’

When the founder of Canada’s largest cryptocurrency exchange died in India in 2018 he took with him the passwords to digital wallets worth more than £100 million. Or so his 76,000 clients thought. A new watchdog report claims, however, that Gerald Cotten ran QuadrigaCX as a kind of Ponzi scheme,… Read More

Elite B.C., Ontario crime network laundering ‘hundreds of millions’ a year, inquiry hears

British Columbia and Ontario provide a base of operations for an elite network of professional money launderers identified by police in 2019 and washing “upwards of hundreds of millions” per year, B.C.’s Cullen Commission into money laundering heard this week. While Global News has reported on sophisticated transnational money-laundering networks… Read More
10th June 2020
A public inquiry into money laundering has heard that British Columbia appears to have more high-level organized crime groups than other provinces. The director general of Criminal Intelligence Service Canada says that among at least 1,850 organized crime groups known to operate in Canada, the agency has assessed 680. RCMP… Read More
9th June 2020
Nigeria has tracked down and grounded the luxury private jet purchased by its former oil minister, Dan Etete, with some of the alleged proceeds of the nororious $1.3 billion Malabu OPL245 oil deal. Asset recovery lawyers acting for the Nigerian government swooped last week after the Bombardier 6000 jet, tail… Read More
27th May 2020
The so-called Vancouver model is an outlier in the history of Canadian crime, a criminologist told B.C.’s public inquiry on money laundering Tuesday. Stephen Schneider told the Cullen Commission of Inquiry into Money Laundering that this system for laundering illegal funds from China and revenue from drug trafficking is exceptional. “I’ve… Read More
26th May 2020
A public inquiry into money laundering in British Columbia has heard that cash is still king but cryptocurrencies and other virtual trade could rise as a trend. Criminology professor Stephen Schneider of St. Mary’s University in Halifax says games and other online platforms with many players are creating their own… Read More
30th March 2020
It was August 2016 and wealthy Mexican businessman Moises Mansur Cysneiros was in Vancouver, exploring whether to move his family here for “a different cultural experience.” He got a call from his Mexican tax lawyer, Jose Juan Janeiro Rodriguez, urging Mansur to fly to Toronto “to discuss certain tax matters… Read More
27th March 2020
While crooks and terrorists are as susceptible to COVID-19 as other mortals, underworld cash always seems immune, so Canada’s money-laundering monitor has begun triaging financial transaction reports during the pandemic. Staffing shortages and business disruption forced by the coronavirus prompted the Financial Transactions and Reports Analysis Centre of Canada, known… Read More
16th March 2020
A suspicious death and a frantic race to prevent a body decomposing. A missing £140m. And, in London, frozen HSBC accounts which could solve a year-long, complex mystery that has captivated the internet and ruined thousands. Welcome to the Quadriga affair, a grim, global treasure-hunt whose clues have surfaced in… Read More
16th March 2020
BMO Harris Bank, a unit of Bank of Montreal, must face billions of dollars in investor claims tied to a massive Ponzi scheme run by former client Tom Petters, a judge ruled. A request by BMO Harris to have the case thrown out before trial was rejected Friday… Read More
3rd March 2020
An internal report from Canada’s anti-money laundering watchdog found nearly half of the real estate companies audited weren’t complying with key areas of the country’s anti-money laundering regime and experts warn these “serious gaps” can hurt criminal investigations. The report prepared by the Financial Transactions and Reports Analysis Centre… Read More
3rd March 2020
China’s Huawei Technologies, which for years has denied violating American trade sanctions on Iran, produced internal company records in 2010 that show it was directly involved in sending prohibited U.S. computer equipment to Iran’s largest mobile-phone operator. Two Huawei packing lists, dated December 2010, included computer equipment made by Hewlett-Packard… Read More