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Regulatory Update

23rd September 2016

China, Canada sign treaty to return fugitives’ assets in fraud and corruption cases

North American nation one of main destinations for corrupt officials fleeing mainland and agreement said to be first of its kind China has signed with another country Read More

23rd September 2016

US moves against money laundering group with Irish links

The United States has moved against what it describes as a major international money laundering network which has operations based in Ireland. The PacNet group, a Canadian international payments processor, was allegedly clearing money based on scams targetting elderly and vulnerable victims involving fake lottery wins, sweepstakes and letters from psychics. Read More

20th September 2016

Canadian Regulator BCSC Issues Warning Against Binary Uno

Binary Uno is the latest binary options broker to be added to the BCSC’s investor caution list. Read More

15th September 2016

Canada: Montreal Chabad center being investigated in money-laundering scam

Quebec securities officials are investigating possible connections between a Montreal Chabad group and an alleged money-laundering scam involving the ex-CEO of Amaya Inc., the world’s largest publicly traded online gambling company. David Baazov, 35, is facing charges filed in March that he tried to influence the Amaya stock price by… Read More

15th September 2016

Canada given lukewarm grade on anti-money laundering efforts

Canada’s anti-money laundering efforts have improved in recent years but significant gaps leave the country open to illicit financial activities, according to an evaluation from an organization that develops policies to protect the global financial system. The importance of anti-money laundering efforts has risen in recent years, as… Read More

14th September 2016

Fintrac found ‘significant’ deficiencies at nearly 500 real estate firms: data

Canada’s anti-money laundering agency conducted on-site examinations of more than 800 real estate companies over four-and-a-half years and found “significant” or “very significant” deficiencies during 60 per cent of those visits, new data shows. A document obtained by The Canadian Press through an Access to Information request shows that Fintrac… Read More

9th September 2016

Former Amaya CEO linked to kickbacks from insider trading, money laundering, alleges Quebec watchdog

Quebec’s securities regulator is showing more of its cards in the case involving David Baazov, the former CEO of online gambling giant Amaya Inc., saying it uncovered a kickback scheme for stock tips on impending takeovers and is investigating related money laundering through a religious organization. The Autorité des marchés… Read More

2nd September 2016

Quebec: SQ director suspended in wake of anti-corruption investigation

Jean Cowan is director of the Quebec provincial police's eastern division Read More

9th August 2016

Canada is confiscating more suspect money from Chinese travelers than ever before

Suspected criminal proceeds or undeclared money seized from Chinese travelers has more than doubled in Canada since 2013, as the rate of capital flight from China continues its unprecedented pace. According to recent numbers from the Canada Border Services Agency, airport officials confiscated $11.5 million CAD in non-reported currency and… Read More

25th July 2016

Canada: Meet the mysterious tycoon at the centre of half-a-billion in B.C. property deals

A Chinese property tycoon linked to a massive banking scandal in China’s industrial north is at the centre of more than $500 million in B.C. property deals, a joint investigation by Postmedia and global due diligence firm IPSA International shows. Chinese real estate magnate Kevin Sun — also known as… Read More

Must Read

EU agrees steps toward tighter money-laundering supervision

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ING close to settling money-laundering probe in Italy: sources

Credit Suisse Blocks Prosecutor Using Critical Finma Report

€131m worth of suspicious transactions at Satabank