TechFlow news, September 19 — According to CoinDesk, the Royal Canadian Mounted Police (RCMP) executed the country's largest cryptocurrency seizure to date, confiscating over CAD 56 million worth of cryptocurrency from the exchange TradeOgre. The Eastern Region Division revealed that this seizure resulted from a year-long investigation by the Money Laundering Investigation Team (MLIT).
Investigators found that TradeOgre was not registered with Canada’s Financial Transactions and Reports Analysis Centre (FINTRAC) as a money services business and failed to verify customer identities. Authorities allege that the majority of funds flowing through the platform originated from illegal activities, and that the platform facilitated money laundering for organized crime groups by offering anonymous account creation services.
