real estate and money laundering - torontomlsedu.torontomls.net/re_andmoneylaundering.pdfreal estate...
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Real Estate and Money LaunderingToronto Real Estate Board
2016-11-29
Supt John ShoemakerOIC GTA Financial Crime
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Assessment & Evaluation• 2015 Inherent Risks of ML
• RE High Vulnerability• Mortgage Fraud – High Threat
• 2016 FATF Mutual Evaluation• Prosecution/Forfeiture• Realtors
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RCMP AML Strategy• Enhancing Data Collection and
Intelligence• Addressing FATF Areas of Concern• Targeting Areas of Highest Risk
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Why Should Realtors Care?
• Impact of ML• Risks• Willful Blindness• Fines and Jail• Benefits to LE
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Project Scrapyard
Gurmit DHAK - 2010-10-16
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Project Scrapyard Jonathan BACON- 2011-08-14
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Project Scrapyard Sandip DUHRE - 2012-01-17
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Project Scrapyard Johnny RAPOSO – 2012-06-18
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Project Scrapyard Nick NERO
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Project Scrapyard Dean WIWCHAR
Robby ALKHALIL
Nick NERO
Martino CAPUTO
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Project Scrapyard
In January 2016, FINTRAC’s contribution was recognized in a joint forces police operation involving the Ontario Provincial Police, the Ottawa Police Service and the RCMP’s “O” Division Ottawa Detachment Financial Crime unit dubbed Project ATTAR. Two properties, with a combined worth of $1.4 million were restrained in this proceeds of crime investigation.
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Final Comments
Professional Standards and Ethics+ Good livelihood of vulnerable sector+ Bad guys= Compromise
Reporting Entities on the front line