FINTRAC’s financial intelligence was recognized by the Alberta Law Enforcement Response Teams in relation to a three-year investigation that resulted in the dismantling of a professional money laundering organization that was supporting some of Canada’s largest crime groups. In total, 71 criminal offences are being pursued against seven suspects, including participation in a criminal organization, laundering proceeds of crime and trafficking property obtained by crime. Charges were also laid under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and under the Income Tax Act. In addition, more than $16 million in bank accounts, real estate holdings, and vehicles have been placed under criminal restraint.
With the financial transaction reports received from Canadian businesses across the country, FINTRAC is providing valuable assistance to law enforcement and national security investigations.
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