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Money laundering in Canada is a problem described by professionals in 2019 as a "national crisis," and which has attracted international attention. [1] As of July 2022, a public inquiry is currently being held to gauge the extent of the problem.
The Personal Property Security Act ("PPSA") is the name given to each of the statutes passed by all common law provinces, as well as the territories, of Canada that regulate the creation and registration of security interests in all personal property within their respective jurisdictions.
Congress has incrementally expanded the government's authority to disrupt and dismantle criminal enterprises and their money-laundering activities since the early 1970s. They have done this by enacting various anti-money-laundering and forfeiture laws such as the RICO Act of 1970 and the USA Patriot Act of 2001. The concepts of asset forfeiture ...
The exact terms of repatriation are still unclear. Without specific mutual legal assistance agreements, they are done on a case by case basis. For instance, Switzerland confiscated US 600 million of former Nigerian President Abacha's loot, but worked out an agreement to use the money for development purposes, monitored by the World Bank.
In another case, Toronto variety store owner Hafiz Malik had defrauded four school board employees out of their $5.7 million prize. He was arrested after the original ticket owners filed a complaint with the police. The OPP seized or froze over $5-million of Malik's assets, including bank accounts, three cars, and a home in Mississauga.
Two Air Canada employees were alleged to be part of an organized crime syndicate who executed the theft. Police recovered some $430,000 in cash, about $89,000 worth of gold jewelry ornaments, and equipment capable of smelting gold to facilitate its sale. Police had also seized the getaway truck.
The Great Canadian Maple Syrup Heist (French: vol de sirop d'érable du siècle, lit. 'maple syrup heist of the century') was the theft over several months in 2011 and 2012 of nearly 3,000 tonnes (3,000 long tons; 3,300 short tons) of maple syrup, valued at C$18.7 million (equivalent to C$24.1 million in 2023) from a storage facility in Quebec.
Possession of stolen goods is a crime in which an individual has bought, been given, or acquired stolen goods.. In many jurisdictions, if an individual has accepted possession of goods (or property) and knew they were stolen, then the individual may be charged with a crime, depending on the value of the stolen goods, and the goods are returned to the original owner.