The definitive guide to anti-money laundering compliance at casinos and regulated online gambling sites for casinos, investors, regulators, banks and players

Tweet A Q&A on money laundering for casinos and online regulated poker websites 1. Executive Summary Money laundering is a process in which so-called ‘dirty money’ from the proceeds of crime is transformed into ‘clean money’ or legitimate money or other assets, such as cars, art, homes or investments. Money laundering typically occurs in three […]

The Jihad Express –> Gaziantep Turkey still ISIS’ conduit city of choice

Tweet Jihad Express Gaziantep, Turkey appears to have emerged as a city of choice for terrorist financing and human trafficking for the Islamic State (“ISIS“) in the past twelve months. Gaziantep is a city close to the Syrian border and is considered one of the key “porous” border towns, where people and goods illegally sold […]

Ming Pao Newspaper covers diamond smuggling trade from Hong Kong to Vancouver

Tweet Diamond smuggling into Vancouver The Ming Pao Saturday Magazine has an interesting story on the arrest of two men from Hong Kong who attempted to smuggle $120 million worth of diamonds into Canada. The diamonds were strapped to their legs and are believed to be proceeds of crime. The story discusses the issue of […]

Is the ATM Global Network Unwittingly Used for Terrorist Financing?

Tweet We’re pleased to announce that Christine Duhaime is giving a presentation on the issue of “How the ATM Network Globally is Unwittingly Used for Terrorist Financing & Ways to Prevent it” at the 2015 Interac Conference in Ottawa. After a spouse of a member of the Islamic State Tweeted to the world from ar-Raqqah, […]

Court in Canada says despite notice of surveillance, violent offender has expectation of privacy over texts in public casino

Tweet Expectation of privacy In an odd decision out of Canada, a provincial level Supreme Court has ruled that a violent offender gambling at a public casino has an expectation of privacy when using his cellular phone to text despite the fact that gamblers are notified of being under surveillance when entering casinos. The decision […]

Canadian arrested for money laundering after allegedly transporting hundreds of millions by private jet to US & tax havens through lawyer

Tweet Private jets of cash According to an article in La Presse, Martin Grenier, a Canadian from Repentigny, Quebec, was arrested in Detroit and charged on February 13, 2014, with money laundering along with two Americans, including a lawyer. Grenier is alleged to have facilitated the laundering of so much cash, that private jets were used to […]

FINTRAC issues annual report

Tweet FINTRAC issued its 2010 Annual Report to Parliament today and among the highlights in this year’s report are the following: FINTRAC made 579 disclosures of information that it suspected may be relevant for investigating threats to Canada’s national security, terrorist financing or money laundering; Approximately 63% of the disclosures of information were made to […]

FINTRAC participating in FATF study on new payment methods

Tweet According to this article in the Toronto Star, FINTRAC is working with the FATF to evaluate money laundering and terrorist financing risks associated with prepaid cards, mobile payment services and Internet based payment services. The FATF will be collating information from cases where mobile and Internet based payment services were used to launder funds or […]

FINTRAC fines two money services businesses for anti-money laundering failures

Tweet FINTRAC, Canada’s financial intelligence unit, has assessed relatively minor penalties against two money services businesses. Sutlej Foreign Exchange Inc., an Ontario-based money services business, was fined $8,450 for failing to: have a written compliance plan; undertake a risk assessment for a compliance plan; train employees on anti-money laundering; report electronic funds transfers to FINTRAC; […]

Canada needs to improve its anti-money laundering efforts according to U.S.

Tweet Canada needs to improve its anti-money laundering efforts in several areas, according to the 2010 Money Laundering Report published by the U.S. Department of State. Canada was among 61 countries identified as major money laundering countries in 2009. Others include Afghanistan, Austria, Brazil, Cayman Islands, China, Greece, India, Iran, Italy, Lebanon, Lichtenstein, Mexico, Pakistan, […]