Canada FINTRAC News & Advisories

Drug Trafficking Operation Report

The Sûreté du Québec, in collaboration with multiple police forces, reported on a large-scale drug trafficking operation targeting a network linked to the Hells Angels. The operation resulted in significant seizures of drugs, currency, and weapons, with nearly 220 officers mobilized.

Money Laundering Operation - Arrests and Seizures

Calgary police arrested four individuals in connection with a $9 million money laundering operation involving anabolic steroids. The investigation, which began in 2020, uncovered an illegal manufacturing lab and significant seizures of drugs, currency, and jewelry.

Director Sentenced for Tax Evasion and Fined $128,101

The Canada Revenue Agency announced that Henry Grant Wetelainen, a director of a Thunder Bay mining company, was sentenced to a conditional sentence and fined $128,101 for tax evasion. The investigation revealed significant undeclared income and unremitted GST/HST.

Project Glacier Dismantles Criminal Organization, Six Charged

ALERT's Project Glacier investigation concluded with six individuals charged for drug trafficking and organized crime offences in Grande Prairie. Over $283,000 in drugs and cash were seized, including firearms.

OSC charges Rumble, Dziedzic, Foss with fraud over $11 million

The Ontario Securities Commission (OSC) has charged Ryan Rumble, Michael Dziedzic, and Justin Foss with fraud over $5,000 and other offenses. The charges relate to Banknote Capital Inc., where the individuals allegedly defrauded investors of over $11 million between November 2020 and August 2023.

Canada Revenue Agency - Bookkeeper Convicted for GST/HST Evasion

The Canada Revenue Agency announced that Aeddy Leung, a bookkeeper from Surrey, British Columbia, received a conditional sentence order and probation for willfully evading nearly $1 million in GST/HST. Leung pleaded guilty to filing false returns and failing to file returns for hotels he managed.

Canada Beneficial Ownership Requirements Guidance

FINTRAC has released a video explaining beneficial ownership requirements in Canada, crucial for combating money laundering and terrorist financing. The guidance is relevant to all reporting entities except title insurers.

FINTRAC Imposes $148,912 Penalty on Century 21 Heritage Group Ltd

FINTRAC has imposed an administrative monetary penalty of $148,912.50 on Century 21 Heritage Group Ltd. for failing to submit a suspicious transaction report. This action highlights the agency's commitment to enforcing anti-money laundering and anti-terrorist financing regulations.

FINTRAC Imposes Penalty on Manor Windsor Realty Ltd.

FINTRAC has imposed an administrative monetary penalty of $107,250 on Manor Windsor Realty Ltd. The real estate brokerage was found to be non-compliant with several provisions of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act.

FINTRAC Advisory on Financial Transactions with FATF High-Risk Countries

FINTRAC has issued an advisory regarding financial transactions with countries identified by the Financial Action Task Force (FATF). Reporting entities must treat transactions with the Democratic People's Republic of Korea (DPRK), Iran, and Myanmar as high-risk and apply enhanced due diligence measures.