On 28 September, a news release from FINTRAC advised of the latest Operational Alert, Laundering of Proceeds from Illicit Cannabis, in support of Project Legion.  This Operational Alert is meant to assist businesses subject to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act in better identifying and reporting to FINTRAC financial transactions related to the laundering of proceeds from illicit cannabis activities.  It was developed in collaboration with law enforcement and Canada’s largest banks to advance and facilitate Project Legion, Canada’s most recent public-private partnership.  The Alert includes an overview of FINTRAC’s analysis of suspicious transaction reports related to illicit cannabis; “red flags” in indicators of illicit cannabis in relation to online unlicensed dispensaries; and possibly related to illicit cannabis in relation to the cultivation, processing and preparation

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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

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