Since May 2024, the B.C. Securities Commission (BCSC), in collaboration with the RCMP, has identified 116 potential money mules involved in investment fraud schemes, issuing warning letters to 40 individuals. The BCSC is conducting 'knock and talks' to educate suspected mules, many of whom may be unaware of their illegal role in laundering proceeds of fraud. The initiative aims to deter continued involvement and gather evidence for enforcement under the Securities Act and Criminal Code. This proactive approach addresses the growing transnational fraud threat leveraging local facilitators.
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