Regulatory Alerts2022-09-28
FINTRAC publishes indicators on the laundering of proceeds from illicit cannabis in support of Project Legion
FINTRAC issued an Operational Alert detailing specific money laundering indicators related to illicit cannabis proceeds to assist regulated businesses in identifying and reporting suspicious financial transactions. Developed in collaboration with law enforcement and major Canadian banks, the alert supports Project Legion, a public-private partnership designed to combat organized crime and protect the integrity of Canada's financial system. By analyzing thousands of suspicious transaction reports, FINTRAC will leverage this intelligence to generate actionable disclosures for law enforcement agencies, directly supporting ongoing investigations into illicit cannabis trafficking and related financial crimes.
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