May 17 - On Tuesday, May 17, cybercrime units in Istanbul and other cities across Turkey conducted operations simultaneously with police detaining 18 suspects. As reported by Daily Sabah, one suspect is still wanted by police for their role in the Twitch money laundering scam. The scandal first gained attention back when the income of Twitch’s highest earners was leaked, revealing some smaller streamers were earning an outrageous amount of money, far beyond what streamers their size earn.

May 17 - The latest research from global analytics software provider FICO suggests that UK banks could face a potentially catastrophic customer defection event in the wake of a money laundering scandal. 56 percent of UK respondents said they would switch banks if theirs was reported to be involved in such a scandal. The younger age groups would be most eager to swap their financial service provider in the aftermath of a money laundering scandal: 64 percent of 18 to 24 year-olds would switch, as would 68 percent of 25 to 34 year-olds.

May 06 - With sales reaching an estimated $17.6 billion US in 2021, there has been no shortage of people and businesses looking to capitalize on the rise of non-fungible tokens (NFTs). And fraudsters are no exception. An NFT is a digital asset, typically a piece of art, secured through the blockchain, the same technology that underpins cryptocurrencies like bitcoin. The price of an NFT is largely driven by investor sentiment — many are regarded as worthless, but some have commanded huge prices, such as Everydays — The First 5000 Days, by artist Beeple, which sold for more than $69 million US in March 2021.

May 06 - Intel just confirmed, Canadian real estate is a haven for money laundering and fraud. Criminal Intelligence Service Canada (CISC), a national intelligence agency, quietly produced an anti-money laundering report in 2020. The report focuses on the scope and extent of money laundering in Canada. The agency found real estate was used extensively as a tool for criminal activity. Organized crime is engaged in everything from laundering, to helping regular families forge mortgage documents. All of this creates extra demand for housing, helping to push home prices higher — and rents as well.

April 29 - Prosecutors, federal police and other officials searched Deutsche Bank’s headquarters in Frankfurt on Friday in a move Germany’s largest lender said was linked to suspicions of money laundering it had reported to the authorities. Under Chief Executive Christian Sewing, Deutsche Bank has been trying to repair its reputation after a series of embarrassing and costly regulatory failings.

April 27 - We wish to inform all reporting entities subject to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) that amendments to the Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations (PCMLTFR) and the Proceeds of Crime (Money Laundering) and Terrorist Financing Administrative Monetary Penalties (PCMLTFAMP) Regulations were registered and are now in force. Further to these amendments, FINTRAC is retracting its positions with respect to merchant servicing and payment processing (PI-7670).

April 19 - An Ottawa man who filed his taxes early has discovered more than one nasty surprise. Not only does Enrique Rosado owe much more than he thought, his bill shows the 65-year-old has probably been targeted in what experts call a complicated "synthetic identity" scam. His problems began in late March when he received a reassessment notice from the Canada Revenue Agency. The letter explained that a Toronto-area business's tax filings indicated that Rosado earned $31,388 he hadn't disclosed in his own personal income tax filing.