News release: Federal Financial Crime Team charges B.C. resident in connection to $47 million interprovincial money laundering scheme 

FINTRAC’s financial intelligence was recognized by the Royal Canadian Mounted Police in an investigation. As a result of the investigation, one individual was arrested and charged with laundering the proceeds of crime. The individual is one of a total of seven individuals who have been charged after allegedly laundering approximately $47 million as part of a criminal organization. Officers determined that the money laundering network was comprised of Alberta and British Columbia companies operating as unregistered money services businesses. These companies are alleged to have received, transferred or converted proceeds of crime through illicit cannabis sales via a variety of online dispensaries. With the financial transaction reports received from Canadian businesses across the country, FINTRAC is providing valuable assistance to law enforcement and national security investigations. Read More