FBI releases transcript of Mafia initiation ceremony
14th November 2017
FBI releases transcript of Mafia initiation ceremony
By Ella Wills, Evening Standard A transcript detailing an initiation ceremony into the Mafia in Canada has been released by the FBI. An undercover police agent was inducted into the Bonanno crime family, one of New York’s five crime organisations, as part of an organised crime probe into drugs, guns… Read More
Equifax: 2.5m more Americans may be affected by hack
3rd October 2017
Equifax: 2.5m more Americans may be affected by hack
By Ken Sweet, AP Credit report company Equifax said Monday that an additional 2.5 million Americans may have been affected by the massive security breach of its systems, bringing the total to 145.5 million people who had their personal information accessed or stolen. Equifax said the company it hired… Read More
Canada: financial watchdog to ‘review’ BC casino money laundering
27th September 2017
Canada: financial watchdog to ‘review’ BC casino money laundering
A buried 2016 report that flagged potential money laundering at Richmond’s River Rock Casino Resort is now attracting the attention of Canada’s financial intelligence unit. The Financial Transactions and Reports Analysis Centre (FINTRAC) has said it “is reviewing the report, on which it was not consulted, to determine whether any… Read More
Chinese cash bets put Vancouver casino in laundering probe
25th September 2017
Chinese cash bets put Vancouver casino in laundering probe
A casino south of Vancouver favored by wealthy Asian gamblers is under scrutiny for potential money laundering as large amounts of cash flow through the Pacific Coast city’s thriving real estate and gaming industries. The British Columbia government released on Friday a previously confidential July 2016 report that had investigated… Read More
Panama Papers: Canada Revenue Authority getting tougher on tax evasion
3rd August 2017
Panama Papers: Canada Revenue Authority getting tougher on tax evasion
We are beginning to see the legal enforcement fallout from the now infamous Panama Papers. Canada Revenue Agency’s (CRA) concerted efforts to find undeclared offshore money and assets is moving into full gear. In addition to pursuing typical civil audits, the CRA is now executing search warrants and launching criminal… Read More
New Canadian banking rules ‘game changer’ for real estate tax evasion
28th July 2017
New Canadian banking rules ‘game changer’ for real estate tax evasion
New Canadian banking rules that took effect July 1 are a “game changer” that could help governments in Victoria and Ottawa fight real estate tax scams exploited by foreign buyers, says a prominent B.C. immigration lawyer. As of July 1, Canadian banks must confirm detailed information on non-resident clients —… Read More
Ottawa vows to lift corporate secrecy in bid to stop tax evasion and money laundering
19th July 2017
Ottawa vows to lift corporate secrecy in bid to stop tax evasion and money laundering
Federal Finance Minister Bill Morneau says secret corporate ownership in Canada will soon end with new rules compelling Canadian company owners to reveal themselves in government filings — a public policy move widely viewed as crucial in the battle against tax evasion and money laundering. But he would not commit… Read More
Canada: lawyers clash over ‘money laundering’ at hearing
12th July 2017
Canada: lawyers clash over ‘money laundering’ at hearing
A Law Society of B.C. disciplinary hearing descended Tuesday into acrimony and occasional raised voices over the regulatory body’s ability and willingness to police money laundering. Kenneth McEwan, a lawyer for the society, rebuked media comments made by Donald Gurney and said they raised a serious question about rehabilitating the… Read More
China hires an army of over 400,000 AML experts to prevent capital flight
11th July 2017
China hires an army of over 400,000 AML experts to prevent capital flight
Less and less money is leaving China by the day. June numbers from the People’s Bank of China (PBoC) show that foreign exchange reserves rose once again. The number was just a slight increase, but the PBoC announced new anti-money laundering measures that will likely mean even less money will… Read More
Russia extends tit-for-tat sanctions against West in line with Putin’s decree
5th July 2017
Russia extends tit-for-tat sanctions against West in line with Putin’s decree
In line with the presidential decree, the Russian government extended the embargo on certain types of food from countries that had imposed sanctions on Russia, according to a document, published on the Russian government’s website on Wednesday. A ban on imports of certain types of agricultural products, raw materials and… Read More
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