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RCMP
The RCMP Federal Policing Northwest Region's Provincial Financial Crime Team (PFCT) in Edmonton has charged an Airdrie resident with fraud and money laundering-related offences. Between January and July 2023, the accused is alleged to have fraudulently received in excess of $100,000 from domestic and international victims who sent money via e-transfer and wire transfer to purchase goods from online sales platforms. The fraudulent sales included goods such as hay bales, deer antlers, antiseptic cleaning wipes and sea urchins. The accused is also believed to have been running an informal value transfer system, known as hawala, using trade-based money laundering methods that contravene the Proceeds of Crime (Money Laundering) and Terrorist Financing Act
FinCEN
Today, the Financial Crimes Enforcement Network (FinCEN) issued a Spanish translation of its July 16, 2024 Notice to financial institutions on the methodologies, financial typologies, and red flag indicators associated with timeshare fraud orchestrated by Mexico-based transnational criminal organizations (TCOs). Mexico-based TCOs such as the Jalisco New Generation Cartel (CJNG) are increasingly targeting U.S. owners of timeshares in Mexico through complex and often yearslong telemarketing, impersonation, and advance fee schemes. They use the illicit proceeds to diversify their revenue streams and finance other criminal activities, including the manufacturing and trafficking of illicit fentanyl and other synthetic drugs into the United States. The Notice was issued jointly with Treasury’s Office of Foreign Assets Control (OFAC) and the Federal Bureau of Investigation, and published concurrently with an OFAC sanctions action against Mexican accountants and companies for their role in facilitating timeshare fraud on behalf of CJNG. Financial institutions with questions about the content of the joint Notice should contact FinCEN’s Regulatory Support Section at frc@fincen.gov.
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