CANADA: UNDERGROUND BANKING THROUGH UNREGISTERED MONEY SERVICES BUSINESSES

An Advisory from FINTRAC focuses on money laundering and terrorist activity financing risks associated with underground banking through unregistered money services businesses (MSB) that are not registered with FINTRAC.  The advisory reviews trends and patterns identified through FINTRAC’s analysis of suspicious transaction reports and disclosures to law enforcement related to underground banking.

https://fintrac-canafe.canada.ca/intel/advisories-avis/bank-eng

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section View all posts by raytodd2017