The system is working as designed.
A vast “financial underworld” is operating in Canada whose members commit fraud and other financial crimes without punishment, corroding communities, undermining democratic institutions and even the country’s prosperity, the authors of a new book say.
That’s because elected leaders at all levels are enabling and emboldening financial criminals by failing to fight them or even try to hamper their lawbreaking efforts, according to the co-authors of Dirty Money: Financial Crime in Canada.
“Canada is a preferred destination to launder ill-gotten gains with impunity,” say Jamie Ferrill and Christian Leuprecht, the co-editors of Dirty Money. They also wrote some of its 16 chapters. […]
One chapter examines the mysterious workings of the country’s super-secret financial intelligence agency, the Financial Transactions and Reports Analysis Centre of Canada, known as FINTRAC.
Katarzyna McNaughton, a visiting post-doctoral fellow at the Royal Military College of Canada in Kingston, Ont., reveals that FINTRAC produces and delivers a large volume of proactive disclosures about potential major financial crimes to police agencies.
However, the intelligence disclosures often sit unused or acted upon inside police services because investigators are already overwhelmed with their own mountain of cases, McNaughton writes, quoting an unidentified former FINTRAC worker as her source.
(h/t David M)
The Liberals have always been dis-honest with remembering Jean Chretien bag funds! But Justin has taken criminal activity to an unseen level! I hope I’m wrong but I don’t see this ending !!!!
Hockey bags of money at casinos run thru the big tables with the obvious ethnics is nothing compared to the Vancouver or Toronto real estate markets.
Post or Faux nation, take your pick.
Corruption is everywhere.
Bribery is a huge thing in this country.
But there is no bigger criminal organization than the federal government, no matter who the elected POS are.
One thing Canada has in common with Ukraine is…
Without Question Buddy..
Liberals – Vichy Thieving Carpetbagging Filth as they always have been.
” FINTRAC produces and delivers a large volume of proactive disclosures about potential major financial crimes to police agencies….
Here, let me finish that sentence for you:
… a number that is likely reduced to insignificance when compared to the volume of cash that goes through lawyers’ offices, who are exempt from FINTRAC reporting provisions.
The government can move quickly when they want to, thus, it stands to evidence that they don’t want to, because they are ignoring it/doing nothing…. cui bono?
Like all criminal enterprises, it continues unabated until someone takes a bigger cut than they were allowed, or someone thinks they got shortchanged.
In the case of the government they also don’t like competition.
Toronto and Montreal are both huge fraud centers in the West. A friend of mine was just telling me this, and he’s in a position to know. He calls Canada “the new Nigeria.” He gave me some examples as well. For instance, one of the major targets is attorneys in the US. Some small town attorney will receive a certified letter or even an email that looks very legit. It will state that their Canadian company was defrauded by a certain company that domiciles near that law office in the US. The attorney is hired on a contingency basis to collect monies owed to the Canadian company. It’s usually about $300,000 or there abouts.
The Canadian individual will state that a package is being forwarded that will include all the documentation on the case, and should be received in the next week. A representative of the fraudsters will, already be in the US and will then forward a bogus check (showing the name of the company they claim owes them money) for the full amount “owed.” The unknowing attorney will then contact the fraudster and say, “Hey, they sent the money to me.” The fraudster will then tell the attorney to deposit the check and send the 2/3 contingency to an address they have set up in Canada.
The company check is bogus, but the attorney (who thinks he just pocketed $100,000 for doing basically nothing) sends a valid $200,000 check to the fraudster before the $300,000 bogus check clears.
(This has been a public service announcement in favor of diversity)
If not for the perfidy of banks, and their desire to “hold” checks, there is nothing to say that a check couldn’t be cleared almost immediately if it was valid. There is no reason that a transaction takes 2-3 days to occur while the banks are holding the money, let alone 2 weeks.
I see your point. But, just like every other business, cost cutting measures are important. They just don’t have the personnel to be able to do it with such a quick turn around. The fraud taking place is enough to give anyone holding a bank account nightmares.
The fault, obviously, lies with the attorney who doesn’t wait for the check to clear. My understanding is that some of these fraud operations actually track recent law school graduates looking for those that open their own shingle. They keep databases to that effect (which is easier than you might think). They know that these particular law offices are initially operating on a shoestring (in addition of outstanding college loans). So, they’re easy targets that require quick capital and are more likely to go through with it before doing due diligence. Bigger firms will have a trust account and rules in place about releasing funds. Newly founded tiny law firms will not. My friend actually told me that they tailor the amount of the fraud attempt to reflect the amount of cash they think a particular small firm will have available to process the 2/3 of the bogus check.
The Nigerian Prince has gotten much more sophisticated. Incidentally, take a look at the “reported fraud” figures as they compare to the “increased immigration” figures on a graph. The similarity is remarkable.
Identity politics and multiculturalism has turned Canada into a Pirate Den.. It sounds way cooler than it really is, matey.. I could list all the groups shacking us down, but why bother as long as it speaks French and bangs a drum..
Shanghai some new citizens and get to the plunder.. Arrrr..
So Can Ahh Duh is a Kleptocracy?
Well colour me surprised.
How is it “A Vast Financial Underworld” when our bankers and politicians lead it?
Corruption is the nature of Government.
Waste and destruction is the only skill set the bureaus can rise to.
Fire,cancer and bureaucracy all act in the same way,unthinking as they consume their host.
Trudeau Funnels $840,000 to Guilbeault’s Old Organization
https://streetpolitics.com/trudeau-funnels-840000-to-guilbeaults-old-organization/
There are many instances of gov’t people having ill gotten gains in the past decade, (not even going back to Chretien’s days with the bouncing ping pong ball) and there are never any straight answers from them.
The scandals are monthly, and forgotten shortly thereafter, nobody is charged with pocketing the cream off the top, SNC Lavalin is winning bids on infrastructure in the Canadian west again like they’ve never had their “good name” dragged through the mud, nobody sent to jail over this, the RCMP hire based upon skin color with the blessing of the federal overseers and can’t get any convictions on money laundering when the receipts are written in mandarin. Go figure!
The federal gov’t holds hearings on having imposed martial law in Canada, and the final report is wildly off the mark of how any non-Librano sees it, all seemingly to please a PM at his lowest approval rating ever.
Those who are labelled by media to be “right wing” are punished for honking horns, while those protesting for the terrorists in Gaza are protected by the police in Toronto? When did the police get to start choosing sides?
If I knew, IF I KNEW, that my neighbor was pocketing $millions without paying tax on it, why would I say anything about it? Why would I care? If the overseers in federal or provincial justice wanted people to care, wouldn’t they do something about those in their own sphere who have gained illegally and not had to pay the consequences?
Does the federal gov’t want me held to a higher standard than that which they hold themselves to?
How exactly does that work for those who don’t contribute to their pensions yet live high on the hill?
If those making bank on shady casinos were making ilicid donations to the Libano Party of Canada, how would anyone know? There’d be an inquiry, and then in the final report, a suggestion for “tighter controls”
and exactly zero people would be forced to pay the money back, nobody would go to jail, and Canada will be on to next month’s scandal in a few weeks. The same as it’s been for always with #Libranos
Maybe the beholden Canadian media would write a report on this? Who would see if now that media is banned from social media in Canada? Who would care?
Remember the Panama Papers of last decade? Anyone remember who went to jail for this?
Remember the vaccine factory to be built in Quebec last year for + $350 millions? Who cares if nothing was built while the money was spent? So what?
AB/Sask. can’t separate from your tier 2 crappy country because the SCOC said the other provinces get a say in this opinion? Who cares if the SCOC set a rule for this? Who cares?
If I knew, IF I KNEW, that someone was going to bring actual harm to those in gov’t, why would I care?
How would it be any different with how things are in tier 2 Canada now?