Canada’s financial intelligence agency is warning that Russians subject to economic sanctions due to Moscow’s attack on Ukraine could try to evade them using shell companies, cryptocurrency and real-estate transactions.
The Financial Transactions and Reports Analysis Centre also says in a new special bulletin that those seeking to launder the proceeds of crime and corruption might try to hide assets by transferring ownership to family members or close associates.
The federal centre, known as Fintrac, tries to detect money laundering by sifting through a steady stream of transaction data from banks, insurance companies, securities dealers, money service businesses, real estate brokers, casinos and others….