Podcast
Questions and Answers
What is the maximum penalty for money laundering if the value does not exceed $1000?
What is the maximum penalty for money laundering if the value does not exceed $1000?
- Up to 2 years in prison (correct)
- Up to 10 years in prison
- Fine up to $2000
- Up to 6 months in prison or both
Which of the following entities or sectors is NOT listed as a Reporting Entity under FINTRAC?
Which of the following entities or sectors is NOT listed as a Reporting Entity under FINTRAC?
- Security Dealers
- Real Estate Developers
- Software Companies (correct)
- Insurance Companies
What is one thing that FINTRAC cannot do?
What is one thing that FINTRAC cannot do?
- Freeze bank accounts regardless of evidence obtained (correct)
- Act as the lead agency in an investigation
- Demand immediate submission of threshold-based reports
- Mandate reporting entities to submit reports
Which of the following actions is considered a crime under CC 462.31 related to money laundering?
Which of the following actions is considered a crime under CC 462.31 related to money laundering?
What is a noted trend that might raise suspicion of money laundering according to the text?
What is a noted trend that might raise suspicion of money laundering according to the text?
What was added to CC 462.31 in 2019 to expand the scope of money laundering prosecutions?
What was added to CC 462.31 in 2019 to expand the scope of money laundering prosecutions?
What is the key difference between the Criminal Code and Controlled Drugs and Substances Act definitions of 'proceeds of crime'?
What is the key difference between the Criminal Code and Controlled Drugs and Substances Act definitions of 'proceeds of crime'?
According to Section 462.3 of the Criminal Code, what is prohibited?
According to Section 462.3 of the Criminal Code, what is prohibited?
What is the threshold for treating the possession of proceeds of crime as an indictable offence under the Criminal Code?
What is the threshold for treating the possession of proceeds of crime as an indictable offence under the Criminal Code?
Which of the following is included in the definition of a 'designated offence' under the Criminal Code?
Which of the following is included in the definition of a 'designated offence' under the Criminal Code?
Under the Criminal Code, what is considered 'proceeds of crime'?
Under the Criminal Code, what is considered 'proceeds of crime'?
What is included in the definition of a 'designated offence' under the Criminal Code?
What is included in the definition of a 'designated offence' under the Criminal Code?
