Crime – Advisor's Edge https://phoenix.advisor.ca The best news source for Canadian financial advisors. Investments, financial markets, insurance, practice management, tax and estate planning Tue, 26 Sep 2023 17:21:12 +0000 en-CA hourly 1 https://wordpress.org/?v=5.9.3 https://phoenix.advisor.ca/wp-content/uploads/sites/5/2018/05/cropped-advisor-ico-32x32.png Crime – Advisor's Edge https://phoenix.advisor.ca 32 32 JPMorgan to pay US$75 million on claims that it enabled Jeffrey Epstein’s sex-trafficking operations https://phoenix.advisor.ca/news/industry-news/jpmorgan-to-pay-us75-million-on-claims-that-it-enabled-jeffrey-epsteins-sex-trafficking-operations/ Tue, 26 Sep 2023 17:21:12 +0000 https://www.advisor.ca/?p=231154 The bank had already agreed to pay US$290 million in a class-action lawsuit that involved Epstein's victims

The post JPMorgan to pay US$75 million on claims that it enabled Jeffrey Epstein’s sex-trafficking operations appeared first on Advisor's Edge.

]]> Offshore money launderers traffic in Canadian investment accounts, GICs: FINTRAC https://phoenix.advisor.ca/news/industry-news/offshore-money-launderers-traffic-in-canadian-investment-accounts-gics-fintrac/ Wed, 26 Jul 2023 13:43:06 +0000 https://www.advisor.ca/?p=229104 Casino closures during the pandemic forced illicit activity into different spaces

The post Offshore money launderers traffic in Canadian investment accounts, GICs: FINTRAC appeared first on Advisor's Edge.

]]> Fraud is widespread, but rarely reported to police https://phoenix.advisor.ca/news/industry-news/fraud-is-widespread-but-rarely-reported-to-police/ Mon, 24 Jul 2023 21:04:21 +0000 https://www.advisor.ca/?p=229059 Statistics Canada data shows the average loss from fraud was about $5,000

The post Fraud is widespread, but rarely reported to police appeared first on Advisor's Edge.

]]> Feds consult on fighting money laundering and terrorist financing https://phoenix.advisor.ca/news/industry-news/feds-consult-on-fighting-money-laundering-and-terrorist-financing/ Wed, 07 Jun 2023 16:54:58 +0000 https://www.advisor.ca/?p=226420 Government also seeks comment on creation of new financial crimes agency

The post Feds consult on fighting money laundering and terrorist financing appeared first on Advisor's Edge.

]]> Legal changes would require explanation for questionable wealth in B.C. https://phoenix.advisor.ca/news/economic/legal-changes-would-require-explanation-for-questionable-wealth-in-b-c/ Fri, 31 Mar 2023 17:06:12 +0000 https://www.advisor.ca/?p=223790 Civil forfeiture office could look for assets in names of trustees, partnerships family members

The post Legal changes would require explanation for questionable wealth in B.C. appeared first on Advisor's Edge.

]]> Criminals prove loyal to crypto markets https://phoenix.advisor.ca/news/industry-news/criminals-prove-loyal-to-crypto-markets/ Fri, 19 Aug 2022 18:00:15 +0000 https://www.advisor.ca/?p=212902 Illicit activity holds up well in the face of crypto's decline

The post Criminals prove loyal to crypto markets appeared first on Advisor's Edge.

]]> Ransomware a growing threat to governments https://phoenix.advisor.ca/news/industry-news/ransomware-a-growing-threat-to-governments/ Fri, 13 May 2022 20:18:33 +0000 https://www.advisor.ca/?p=209428 Costa Rica declares emergency over ongoing cyberattack

The post Ransomware a growing threat to governments appeared first on Advisor's Edge.

]]> Fintechs failing at financial crime prevention, FCA finds https://phoenix.advisor.ca/news/industry-news/fintechs-failing-at-financial-crime-prevention-fca-finds/ Fri, 22 Apr 2022 19:12:47 +0000 https://www.advisor.ca/?p=208482 Crime controls, client checks deficient at "challenger" banks, the British bank regulator warns

The post Fintechs failing at financial crime prevention, FCA finds appeared first on Advisor's Edge.

]]> Budget promises more financial cops https://phoenix.advisor.ca/news/industry-news/budget-promises-more-financial-cops/ Fri, 08 Apr 2022 17:14:23 +0000 https://www.advisor.ca/?p=208048 New federal enforcement agency, more funds for FINTRAC

The post Budget promises more financial cops appeared first on Advisor's Edge.

]]> FINTRAC sees rising threat from far-right terrorists https://phoenix.advisor.ca/news/industry-news/fintrac-sees-rising-threat-from-far-right-terrorists/ Tue, 15 Jun 2021 20:57:54 +0000 https://www.advisor.ca/?p=196425 Banks and investment dealers should be aware of these groups' financing behaviour, the agency said in a bulletin

The post FINTRAC sees rising threat from far-right terrorists appeared first on Advisor's Edge.

]]>