Canada major money laundering country in 2014 International Narcotics Control Strategy Report on Financial Crime and Money Laundering

Tweet Canada a Major Money Laundering Country but A Lot Less So The 2014 International Narcotics Control Strategy Report (INCSR) published this month by the U.S. Department of State identifies Canada as a major money laundering country along with, among others, Afghanistan, Brazil, Cambodia, Cyprus, Dominican Republic, Guernsey, Jersey, Hong Kong, Libya, Mexico, Macau and […]

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 […]

Two arrested, including one Canadian, in the 1st state bitcoin prosecution in Florida over alleged money laundering

Tweet In another first for bitcoin, the Miami Beach Police today arrested two men for alleged money laundering involving bitcoin. And one of them is Canadian. According to police, undercover officers and special agents from the Miami Electronic Crimes Task Force posed as bitcoins buyers and contacted various bitcoin sellers on the website “” specifically […]

1st Canadian official regulatory response to Bitcoin – securities commission issues alert against use of Bitcoin highlighting Ponzi risks

Tweet Securities regulator issues warning over bitcoin ATMs & threatens prosecution Canada issued its first official regulatory response to bitcoin today and it came from the Autorité des marchés financiers which issued an alert to consumers about the use of Bitcoin. The Autorité, which is Québec’s securities commission, said in a statement that it will […]

Marijuana brownies & the “smell of money laundering” – email evidence leads to arrest of Bitcoin guru over money laundering charges

Tweet One of Bitcoin’s earliest enthusiasts, Charlie Shrem who ran BitInstant, a New York based Bitcoin exchange, was arrested today and charged with money laundering conspiracy, operating an unlicensed money transmitting business and failure to file suspicious activity reports to FinCEN. The complaint was filed by U.S. Attorney for the Southern District of New York, […]