Merchants Against Money Laundering
Merchants Against Money Laundering
BC businesses are urged to educate themselves on how to play a role to deter and detect money laundering
The RCMP "E" Division Integrated Proceeds of Crime section (IPOC) has launched its fourth annual Merchants Against Money Laundering awareness campaign. The campaign's objectives are to:
Educate business owners about money laundering
Show business owners how they can become unknowing participants in the crime, and
Explain the impact money laundering has on the community.
Why criminals launder money
The methods money launderers use
How to identify a suspicious transaction
How your business can be used to facilitate the laundering process
The role of FINTRAC
The last thing a business owner wants is to have their business affiliated with a money laundering transaction. Ultimately, a money laundering transaction, depending on its source, may have a negative impact on your business' reputation. Take steps to get educated and contact our student representatives to schedule a presentation. You can also download and complete the attached request form, and fax it to (604) 264-2304. To learn more about money laundering and how it can impact your business and community visit http://www.rcmp-grc.gc.ca/poc/launder_e.htm.
Statistics:
The United Nations estimates that 2-5% of global GDP, between $800 billion - $2 trillion US is laundered annually (Source: UN website, 2008)
Fintrac received over 17 million transaction reports from reporting entities in the fight to detect and deter money laundering (Source: Fintrac 2007 Annual Report)
Backgrounder:
IPOC's mandate is to identify, seize, restrain and forfeit illicit and unreported wealth accumulated through organized criminal activity. The 12 IPOC units across Canada bring together the skills, knowledge, and abilities of a diverse group of experts, including RCMP, provincial and municipal police investigators, lawyers from the Public Prosecution Service of Canada (PPSC), forensic accountants from the Forensic Accounting Management Group (FAMG), representatives from Canada Revenue Agency (CRA), customs officers from the Canada Border Services Agency (CBSA) and members from the Seized Property Management Directorate (SPMD).
They can be contacted at:
2008 REQUEST FORM.pdf
Kevin Rakhra
Student - Merchants Against Money Laundering
kevindeep.rakhra@rcmp-grc.gc.ca
604-264-3363
Emily Li
Student - Merchants Against Money Laundering
emily.li@rcmp-grc.gc.ca
604-264-3364
Dave Reece, Cpl
Integrated Proceeds of Crime Investigator
Merchants Against Money Laundering
dave.reece@rcmp-grc.gc.ca
604-264-3016