FINTRAC's Financial Intelligence Leads to 29 Charges in $40 Million Money Laundering Scheme
action_requiredCanada·Financial Transactions and Reports Analysis Centre of Canada (FINTRAC)·Wire Summary
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
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