Anti-Financial Crime & Financial Crime Compliance
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Regulatory Watch News

  • Government announces new measures to help protect Canadians and businesses against extortion

    Canadian Government

    For too many Canadian individuals and businesses, extortion is a reality of everyday life—one that brings fear, intimidation, and harm to communities and families alike and that undermines Canadians’ sense of safety. These crimes are typically carried out by organized networks operating across borders and using digital platforms. That’s why coordinated action between governments, law enforcement, and financial institutions is essential and at the heart of today’s announcement. To better protect Canadians, the Honourable François-Philippe Champagne, Minister of Finance and National Revenue, along with the Honourable Rechie Valdez, Minister of Women and Gender Equality and Secretary of State for Small Business and Tourism, the Honourable Maninder Sidhu, Minister of International Trade, and the Honourable Shafqat Ali, President of the Treasury Board, is today announcing new measures to strengthen Canada’s ability to detect, disrupt, and prevent extortion across Canada, especially in the most affected areas like Ontario, British Columbia, and Alberta. By improving how financial intelligence is collected and shared, law enforcement will be better equipped to trace criminal networks, support investigations, and hold those responsible accountable.

  • Treasury Targets Cartel-Linked Timeshare Resort Defrauding U.S. Citizens

    OFAC

    WASHINGTON—Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned a timeshare fraud network led by the terrorist Cartel de Jalisco Nueva Generacion (CJNG).  The action targets Kovay Gardens, a Mexican timeshare resort, as well as five Mexican individuals and 17 Mexican companies associated with the network.  Many of these individuals and entities are based in or near Puerto Vallarta, a popular tourist destination that also serves as a strategic stronghold for CJNG.  CJNG is a brutally violent terrorist cartel that continues to diversify its illicit revenue streams beyond drug trafficking, including through timeshare fraud and fuel theft.  These activities generate significant proceeds for the organization at the expense of U.S. citizen victims. Timeshare fraud often targets vulnerable older Americans and can defraud victims of their life savings.

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