Canadian court dismisses charges against 3 jobless people over $24 million in unexplained cash

Tweet Here’s an interesting story about how a Court dismissed a $24 million money laundering case because, in the Court’s view, the evidence did not prove that three unemployed siblings who funneled millions of dollars in cash through a money services business in Vancouver were laundering proceeds of crime. Even though one of the siblings […]

10th Annual National Money Laundering Symposium at Osgoode Hall Law School

Tweet The agenda is out for the upcoming 10th Annual National Symposium on Money Laundering in Toronto on April 4, 2014. The Symposium includes sessions on the following: Report from Gerald Cossette, Director of FINTRAC on Current Money Laundering and Terrorist Financing Trends in Canada. Financial Institution Lessons Learned from US and Canada on Money […]

Canada announces regulation of bitcoin, digital currencies and Internet gambling sites under anti-money laundering laws

Tweet Federal government to regulate bitcoin and other digital currencies As was widely anticipated, the federal government announced today that it will amend federal legislation to require the regulation of digital currencies like bitcoin in order to eliminate the potential risks of digital currencies being used for terrorist financing and money laundering. Interestingly, the proposed […]

Liberty Reserve founder pleads guilty to money laundering

Tweet Money laundering conviction The US government announced that one of the co-founders of Liberty Reserve, Vladimir Kats, pleaded guilty to money laundering and operating an unlicensed money transmitting business yesterday. The US government found that Liberty Reserve was one of the world’s most popular virtual currency services. It’s co-founders were indicted in the U.S. in […]

Vietnam implements anti-money laundering decree

Tweet Response to FATF blacklisting Following years of pressure, the Socialist Republic of Vietnam has implemented anti-money laundering legislation which took effect on Friday. The move was in response to the blacklisting of Vietnam  in June by the Financial Action Task Force (“FATF“) for  lax anti-money laundering (“AML“) and counter terrorist financing (“CTF“) controls. 14 […]