FINTRAC published today its latest Operational Alert, Laundering of Proceeds from Online Child Sexual Exploitation, in support of Project Shadow. This Alert will assist businesses subject to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act in better identifying and reporting to FINTRAC financial transactions related to the laundering of funds associated with online child sexual exploitation.
FINTRAC’s Operational Alert will help facilitate and advance Project Shadow, Canada’s latest public-private partnership focused on combatting money laundering associated with financial crime. Co-led by Scotiabank and the Canadian Centre for Child Protection, Project Shadow is aimed at improving the collective understanding of online child sexual exploitation and strengthening the detection of the facilitation and the laundering of funds related to this illicit activity.
Dec 10th, 2020