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BTCC / BTCC Square / Global Cryptocurrency /
Crypto Exchanges Under Scrutiny as Canada Cracks Down On Drug-Related Money Laundering

Crypto Exchanges Under Scrutiny as Canada Cracks Down On Drug-Related Money Laundering

Author:
Global Cryptocurrency
Published:
2025-01-25 18:25:15
7
3
Canada is intensifying its surveillance of cryptocurrency transactions to combat money laundering associated with synthetic opioids. The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) has issued an alert highlighting the use of digital assets in laundering funds tied to fentanyl and opioid trafficking. This alert updates a 2018 report and includes new risk indicators derived from financial data, transaction patterns, and law enforcement insights. The move reflects the growing role of cryptocurrencies in laundering proceeds from illegal drug sales.

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Risk warning: Digital asset trading is an emerging industry with bright prospects, but it also comes with huge risks as it is a new market. The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. Please make sure you have a thorough understanding of the industry, the leveraged trading models, and the rules of trading before opening a position. Additionally, we strongly recommend that you identify your risk tolerance and only accept the risks you are willing to take. All trading involves risks, so you must be cautious when entering the market.

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