real estate and money laundering - torontomlsedu.torontomls.net/re_andmoneylaundering.pdfreal estate...

Real Estate and Money LaunderingToronto Real Estate Board

2016-11-29

Supt John ShoemakerOIC GTA Financial Crime

Assessment & Evaluation• 2015 Inherent Risks of ML

• RE High Vulnerability• Mortgage Fraud – High Threat

• 2016 FATF Mutual Evaluation• Prosecution/Forfeiture• Realtors

RCMP AML Strategy• Enhancing Data Collection and

Intelligence• Addressing FATF Areas of Concern• Targeting Areas of Highest Risk

Why Should Realtors Care?

• Impact of ML• Risks• Willful Blindness• Fines and Jail• Benefits to LE

Project Scrapyard

Gurmit DHAK - 2010-10-16

Project Scrapyard Jonathan BACON- 2011-08-14

Project Scrapyard Sandip DUHRE - 2012-01-17

Project Scrapyard Johnny RAPOSO – 2012-06-18

Project Scrapyard Nick NERO

Project Scrapyard Dean WIWCHAR

Robby ALKHALIL

Nick NERO

Martino CAPUTO

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.

Final Comments

Professional Standards and Ethics+ Good livelihood of vulnerable sector+ Bad guys= Compromise

Reporting Entities on the front line

Thank-You!Supt John Shoemaker

OIC GTA Financial CrimeJohn.shoemaker@rcmp-grc.gc.ca