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Canadian regulator issues alert on laundering funds from illicit cannabis transactions

( September 28, 2022, 14:09 GMT | Official Statement) -- MLex Summary: Canada's financial regulator FINTRAC issued an operational alert to assist businesses subject to financial regulations identify and report transactions related to the laundering of proceeds from illicit cannabis activities. Though the Cannabis Act came into force in 2018, 37 percent of respondents to the Canadian Cannabis Survey 2021 disclosed that they obtained some or all of their product from illegal or unlicensed sources, including unregulated or unauthorized retailers and storefronts, FINTRAC said.Statement and guidance follow below:...

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