Red Deer woman charged with stealing $1M from ATB Financial in Sylvan Lake

Red Deer woman charged with stealing $1M from ATB Financial in Sylvan Lake

June 13, 2018 ( Courtesy of globalnews.ca ) –  Mounties in central Alberta have arrested a former ATB Financial bank worker for allegedly stealing $1.1 million from her employer. RCMP said the woman was working at the ATB Financial branch in Sylvan Lake when she forged a customer’s signature and obtained a loan in the customer’s name. Sylvan Lake RCMP began their investigation in August of 2017. Due to the complexity of the investigation, the Red Deer RCMP…

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Canada Declares War on Cryptocurrency Fraud with Mandatory KYC/AML Regulations

Canada Declares War on Cryptocurrency Fraud with Mandatory KYC/AML Regulations

Canada’s Fraud Crackdown June 13, 2018 (Courtesy of btcmanager.com ) – As stated in the draft published by Canada Gazette, the Financial Action Task Force (FATF) pointed out some inadequacies in the Anti-Money Laundering and Anti-Terrorist Financing Regime (AML/ATF). Similar to regulations in other countries where digital assets are partly tolerated, all cryptocurrency-related businesses, exchanges, and Fintech companies in Canada are now categorized under money service businesses (MSB). As per the new regulation, MSBs are required to…

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PRESS RELEASE – Sandeep Mehta linked to Benedetto “Benny” Manasseri’s Pro-Fit Financing Fraud Scheme

PRESS RELEASE – Sandeep Mehta linked to Benedetto “Benny” Manasseri’s   Pro-Fit Financing Fraud Scheme

June 13, 2018 – At Canadian Fraud News, we report on decisions issued by Canadian Courts related to fraud, that are not reported in the main stream media, and that contain legal issues the Canadian public and fraud recovery experts should be aware of. The following is one such story. On June 11, 2018, the Ontario Superior Court of Justice in Ottawa released its decision in civil fraud recovery action of Pradeep Merchant (“Merchant”) and Shiv…

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$400K vanishes from public service union’s coffers

$400K vanishes from public service union’s coffers

June 6,  2018 (Courtesy of CBC.ca) – A union representing public service professionals across Canada, including economists, statisticians and civilian employees of the RCMP, is trying to figure out how $400,000 was apparently siphoned from its bank accounts over the course of nearly a decade without anyone’s knowledge. Sources tell CBC News one employee has been fired from the Canadian Association of Professional Employees (CAPE) in relation to an internal investigation, though the union said several employees were investigated. I’m…

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6 Montrealers facing extradition to the U.S. for alleged Lottery fraud

6 Montrealers facing extradition to the U.S. for alleged Lottery fraud

Alleged victims in the United States were led to believe they had won a Canadian lottery May 29, 2018 (courtesy of The Canadian Press) –  A Pennsylvania woman who is among the alleged victims of a lottery scheme involving six Montreal-area men has testified she lost nearly $300,000 US. The six are facing extradition to the United States to face charges related to the alleged fraud of $1.35 million US. Court documents provide similar testimony…

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BMO and CIBC’s Simplii warn fraudsters may have accessed clients’ data

BMO and CIBC’s Simplii warn fraudsters may have accessed clients’ data

May 29, 2018 (Courtesy of CTVnews.ca) – Two of Canada’s biggest banks warned Monday that “fraudsters” may have accessed certain personal and financial information of up to 90,000 customers. The Bank of Montreal said hackers contacted the bank on Sunday claiming to be in possession of the personal information of fewer than 50,000 customers and threatened to make it public. “We became aware of unverified claims that customer personal and financial data may have been accessed by…

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Fraud charge for Calgary woman accused of faking cancer

Fraud charge for Calgary woman accused of faking cancer

May 24, 2018 ( Courtesy of CTVNews.ca) – A Calgary woman has been charged with fraud after police say she was collecting money through various fundraising campaigns for cancer treatments she didn’t need. Police said the 30-year-old woman set up a GoFundMe page and even organized a raffle with false prizes to raise money after she claimed she was diagnosed with cancer. Investigators received a tip about the woman and searched her medical records where they…

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Court docs claim vehicle fraud involving more than 100 vehicles

Court docs claim vehicle fraud involving more than 100 vehicles

May 17, 2018 (courtesy of CTV.ca) – An Edmonton car dealership has taken legal action against an Edmonton man, and a number of companies he is involved with, after more than 33 vehicles were taken from the dealership’s lot earlier this year. A Statement of Claim obtained by CTV News outlines the lawsuit, filed by AutoCanada Capital Motors GP Inc. against a handful of numbered companies, individuals involved with those companies, Alberta Treasury Branches and Automotive…

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Massachusetts hedge fund manager with ties to Toronto based asset management firm gets six years in prison for fraud

Massachusetts hedge fund manager with ties to Toronto based asset management firm gets six years in prison for fraud

May 7,2018 (Courtesy of Reuters) – A Massachusetts hedge fund manager was sentenced on Thursday to six years in prison for defrauding investors in a scheme that prosecutors said cost his clients over $10.5 million and allowed him to fund a lavish lifestyle. Yasuna Murakami, who managed MC2 Capital Management LLC and another investment advisory firm, wiped away tears before being sentenced by U.S. District Judge Douglas Woodlock in Boston as he apologized for the…

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Canadian fraud victims could get some of $586M US Western Union settlement

Canadian fraud victims could get some of $586M US Western Union settlement

U.S. ruling found company failed to properly protect customers against fraudsters May 2, 2018  (Courtesy of CBC.ca) – Police departments across Canada are informing fraud victims who sent funds through Western Union that they may be eligible to get some of their money back. Western Union has been ordered to pay back $586 million after the American Federal Trade Commission and Department of Justice ruled the company failed to properly protect its customers against fraudsters. The company admitted…

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