FINTRAC’s financial intelligence was recognized by the Ontario Royal Canadian Mounted Police (RCMP) in relation to an illicit cannabis investigation. As a result of the investigation, six individuals have been charged for operating an illicit cannabis production and distribution network in Ontario. Approximately 17,000 cannabis plants were seized and the RCMP estimates that the operations could have an annual production value of over $16 million dollars. The RCMP also alleges that millions of dollars in profits were laundered through the Canadian banking system through a sophisticated identity fraud scheme. With the financial transaction reports received from Canadian businesses across the country, FINTRAC is providing valuable assistance to law enforcement and national security investigations.FINTRAC’s financial intelligence was recognized by the Ontario Royal Canadian Mounted Police (RCMP) in relation to an illicit cannabis investigation. As a result of the investigation, six individuals have been charged for operating an illicit cannabis production and distribution network in Ontario. Approximately 17,000 cannabis plants were seized and the RCMP estimates that the operations could have an annual production value of over $16 million dollars. The RCMP also alleges that millions of dollars in profits were laundered through the Canadian banking system through a sophisticated identity fraud scheme. With the financial transaction reports received from Canadian businesses across the country, FINTRAC is providing valuable assistance to law enforcement and national security investigations. Read More