The Alberta Law Enforcement Response Teams (ALERT) and the RCMP have dismantled an alleged money laundering organization, which was supporting some of Canada’s largest organized crime groups. .Project Collector was a three-year financial crime investigation conducted by ALERT Calgary’s financial crime team and RCMP Federal Serious and Organized Crime, according to a Wednesday press release. The release said the investigation began in Calgary and led to an alleged nationwide criminal organization involved in money laundering being dismantled. .Seven suspects have been charged, with arrests happening in Calgary and Vancouver. More than $16 million in bank accounts, real estate, and vehicles have been placed under criminal restraint.. Money launderingProject Collector cash .The release said proceeds of crime from some of Canada’s largest criminal organizations were allegedly being transported between Ontario, Alberta, and British Columbia. It said investigators identified the transfer of $24 million in cash in one year, with the group’s alleged money laundering activities dating back to at least 2013..Project Collector began in 2018 after $1 million in cash, destined for Vancouver, was intercepted in Calgary. ALERT and RCMP launched an extensive investigation relying on intelligence from the Financial Transactions and Reports Analysis Centre. .The release went on to say Project Collector revealed the group allegedly operated fake bank branches across Canada while holding large cash reserves, allowing organized crime groups to use its service to transfer funds and evade banks and financial authorities. It added alleged money laundering was connected back to drug trafficking proceeds.. Restrained propertyProject Collector restrained property .Seventy-one criminal offences are being pursued against the alleged money laundering organization, including participation in a criminal organization, laundering proceeds of crime, and trafficking property obtained by crime. Additional charges were laid under the Proceeds of Crime and Terrorist Financing Act..The following people were arrested in September:.Lien Ha, 42-year-old from Calgary,Donald Hoang, 26-year-old from Vancouver;Van Duc Hoang, 64-year-old from Vancouver;Van Thi Nguyen, 62-year-old from Vancouver;Cynthia Nguyen, 42-year-old from Calgary;Yuong Nguyen, 43-year-old from Calgary; andGrace Tang, 25-year-old from Vancouver.. Money laundering 2Projector Collector cash .Search warrants were executed at 10 homes in the Calgary region, Toronto area, and Vancouver during the course of the investigation. .Members of the public who suspect drug or gang activity in their community are advised to call local police or contact Crime Stoppers at 1 (800) 222-8477. . Restrained propertyProject Collector restrained property .Financial advisors outside Canada are guiding their clients to the country, saying authorities cannot unmask illegal foreign investors, according to a March report from Transparency International Canada (TIC). .READ MORE: Report says Canada is a dirty money magnet.“Canada is known as an easy place to launder dirty money, or ‘snow-wash,'” said TIC. .“International corporate service providers actively promote incorporating companies in Canada to clients who wish to take advantage of lax secrecy laws and low financial crime enforcement.”
