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Home » News release: Integrated Money Laundering Investigative Team lay 29 charges in $40 million money laundering scheme 

News release: Integrated Money Laundering Investigative Team lay 29 charges in $40 million money laundering scheme 

FINTRAC’s financial intelligence was recognized in an investigation by the RCMP Northwest Region Federal Policing’s Integrated Money Laundering Investigative Team. The two accused individuals, who owned and operated a money services business, allegedly defrauded several financial institutions by transferring over $40 million into Canada from the United Arab Emirates through a complex network of shell companies and third-party banks accounts. As a result of this investigation, two individuals and one company are facing 29 charges relating to money laundering and fraud. 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