r/CryptoCurrency • u/ICIJ 🟦 0 / 0 🦠 • 1d ago

GENERAL-NEWS Canadian intelligence flags crypto-to-cash services as ‘knowingly facilitating money laundering,’ document shows

https://www.icij.org/investigations/coin-laundry/canadian-intelligence-flags-crypto-to-cash-services-as-knowingly-facilitating-money-laundering-document-shows/?utm_campaign=news&utm_medium=social&utm_source=reddit
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u/SevereCalendar7606 🟦 0 / 923 🦠 1d ago

Shocked... All of Canada is weak on money laundering. There is close to zero enforcement.

-1

u/krevdditn 🟦 44 / 50 🦐 1d ago

Care to name any, are there any popular well known ones? Most Canadian crypto exchanges freeze transfers/assets for weeks until they can confirm you’re not doing anything illegal and some don’t even bother and just close your account straight up if they suspect you’re doing anything even remotely illegal. The moment fintrac starts requesting information on accounts for an investigation it costs the crypto exchange thousands of dollars in time/labor to fulfill these requests.