Explorez tous les épisodes du podcast Know Your Compliance (KYC)

This episode of the Know Your Compliance Podcast focuses on a less-discussed form of human trafficking in Canada: the exploitation of boys, often through labor trafficking, criminal coercion, and organized networks. Greg Dent is joined by Shana McCalla of Find Ontario’s Missing Boys, who shares how her advocacy began, what patterns she has uncovered, and why public awareness and cross-jurisdictional action matter.

https://survey.findontariomissingboys.ca

We discuss how missing boys cases can be tied to trap houses, grooming, debt bondage, and broader public safety risks. The conversation also breaks down what parents, community members, real estate professionals, and compliance teams can look for in their neighbourhoods and daily work.

Key topics

• Shana McCalla shares how she moved from filmmaker and multimedia producer into advocacy after being alerted to several missing boys in her community
• The first flyer shares led to global attention, more families speaking up, and the discovery that the number of missing boys had more than doubled within months
• Find Ontario’s Missing Boys was launched after parents began organizing their own searches and raising concerns about a lack of urgency from authorities
• The conversation highlights that many of the boys are being found in Northern Ontario and other distant locations Shana describes as red zones
• Shana explains that the exploitation is often labor trafficking and criminal exploitation, not only sex trafficking
• The discussion connects missing boys to organized crime activity including drug trafficking, smash and grabs, and home invasions
• Greg and Shana walk through practical warning signs for parents, neighbors, real estate professionals, and mortgage brokers
• The episode emphasizes that traffickers use houses, drivers, delivery systems, social media apps, and even bank deposits to move and control victims
• The central message is that coordinated community awareness can help disrupt these networks and improve outcomes for families

Timestamps

00:29 - Meet Shana McCalla and Find Ontario’s Missing Boys

02:23 - Flyers go viral and families begin reaching out

04:10 - Missing boys numbers more than double

05:03 - Parents launch their own searches

05:31 - Town halls reveal the scale of grief and fear

06:41 - The lack of active searching and delayed flyers

07:56 - Building a committee and identifying red zones

08:54 - Searches across Northern Ontario and Thunder Bay

09:49 - Why flyers and community pressure can trigger releases

11:04 - How boys are groomed into labor trafficking

12:29 - Organized crime and debt bondage

13:38 - The Brampton to Saskatchewan case of Jayzaya Weblong

15:26 - Crisis response, prevention, and cross-jurisdiction gaps

16:22 - The importance of education and public awareness

18:43 - What suspicious activity can look like in a neighborhood

23:34 - Warning signs for parents of boys ages 9 to 16

24:53 - Social media recruitment through apps and messaging

25:50 - A nine-year-old lured with promises of reuniting with his father

26:48 - Why the Hollywood version of trafficking misses the real threat

28:56 - Financial crime and the trafficking puzzle

30:16 - How compliance professionals can connect the pieces

31:15 - Closing thoughts on awareness and community action

Have questions, want to get involved, or need more information about our work? Please visit https://survey.findontariomissingboys.ca/

On this episode of the KYC Podcast, Greg sits down with Justin Noda, With over 20 years in the mortgage industry, Justin has served as a broker, franchise owner, underwriter, and Managing Director. He's helped develop and implement national compliance frameworks at 3 large scale brokerages, is currently the Chief Compliance & Operations Officer for the A Better Way Mortgage Group and is the host of the Broker Armour podcast.

Broker Armour Podcast Link:

https://podcast.joinabw.ca/episode/ep-59 

The discussion then delves into the adaptation of the mortgage sector to FINTRAC regulations, the challenges and compliance issues faced, the importance of effectiveness reviews, and the impact of regulatory changes on the industry's future trends. The conversation delves into the impact of regulatory changes, the importance of enhanced due diligence and AML compliance, the implications of the Mortgage Services Act, and the evolution of mortgage regulations and compliance in British Columbia.

Takeaways

• Mortgage sector's adaptation to FINTRAC
• Challenges and opportunities in compliance and consolidation Regulatory changes have a significant impact on the mortgage industry.
• Enhanced due diligence and AML compliance are crucial for mortgage brokers.

Chapters

• 00:00 Introduction and Background
• 01:42 Adaptation to FINTRAC
• 03:05 Challenges and Compliance
• 12:18 Effectiveness Reviews and Consolidation
• 17:34 Regulatory Impact and Future Trends
• 18:38 Regulatory Changes and Impact
• 20:18 Enhanced Due Diligence and AML Compliance
• 26:49 Mortgage Services Act and Industry Consolidation
• 33:01 BC Mortgage Regulations and Compliance Evolution

Most businesses underestimate just how much regulatory changes can reshape their compliance game—and Bill C-12 is a prime example. When its provisions start rolling out, your operations could be thrust into a new era of scrutiny, penalties, and mandatory reforms. Are you prepared to navigate this complex landscape before the next examination hits?In this episode, Greg Dent of Really Trusted offers a clear-eyed analysis of Bill C-12’s most impactful components. You'll discover how increased fines—potentially soaring from hundreds of thousands to millions—could affect your business’s bottom line, and why the concept of compliance effectiveness is now more critical than ever. Greg breaks down how the regulator’s move toward formalized compliance agreements and public notices signals a shift toward greater transparency and accountability, which can be turned into a strategic advantage if understood correctly.We break down practical steps for integrating new requirements like mandatory registration—an administrative overhaul most firms are not yet prepared for—and how these changes could ultimately create a stronger, more compliant industry. Greg shares insights on the importance of proactive preparation, emphasizing that the upcoming enforcement timelines aren’t just regulatory hurdles—they’re opportunities for smarter, more resilient compliance programs.Missing this shift risks hefty penalties, reputational damage, and operational setbacks as enforcement catches up. But with the right understanding, your organization can turn compliance into a competitive advantage, building trust and safeguarding your business in an increasingly regulated environment.Perfect for compliance officers, business leaders, and operators looking to stay ahead of regulatory changes—not just to survive, but to thrive in the evolving landscape of financial and real estate compliance. Don’t wait for the regulator to set the rules—get ahead now.Greg Dent, head of Really Trusted, is a seasoned compliance strategist dedicated to helping organizations understand and adapt to rapidly changing regulatory demands. His expertise in FinTrac, AML, and sector-specific compliance makes this episode essential listening for industry professionals committed to future-proofing their businesses.

This episode hooks listeners immediately with the looming impact of Bill C-12's changes, building curiosity around compliance risks and opportunities. It highlights concrete details—penalties, registration, enforcement timelines—while positioning Greg as a credible guide. The call-to-action appeals directly to business leaders eager to turn compliance complexity into strategic advantage, which maximizes engagement and listen-through.

Disclaimer - The topics discussed on this show are typically related to compliance with FINTRAC. Nothing said on this show should be considered to be specific advice that can be directly used in your compliance program as the host and its guests will not know your specific compliance situation. Any advice given should be considered to be for informational purposes only.

Greg and Daniel unpack Bill C-2, the Strong Borders Act, and its sweeping implications for Canadian businesses. What sounds like dense legislative change actually touches everyday operations—like accepting cash or registering with FINTRAC.

Together they break down the real-world impact of proposed updates to Canada’s anti-money laundering framework. From universal enrollment to mandatory compliance agreements, Greg and Daniel highlight what’s likely to become law, what’s bound to cause controversy, and why this legislation might permanently change how businesses handle risk, privacy, and operational compliance. With clear examples and an eye toward both policy and people, they explore what this means for small brokerages, national banks, and everything in between.

Key Takeaways:

1.    Learn how universal enrollment could change who can legally operate—and who gets shut down.

2.    Understand why compliance templates may no longer protect you.

3.    Discover how new penalties tied to gross global revenue could reshape business risk models.

4.    Hear why banning anonymous accounts could affect everything from gift cards to domestic safety.

5.    Find out why cash restrictions may ignite public backlash—and what it means for civil liberties.

Connect with Greg and ReallyTrusted at:

https://reallytrusted.com/

https://www.facebook.com/ReallyTrusted/

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What if digital identity wasn’t just about security, but about economic prosperity? Greg Dent sits down with Joni Brennan, President of the Digital Identity and Authentication Council of Canada (DIACC), to unpack what digital trust really means—and why it matters more than ever. They explore how tools meant to protect us are often misunderstood, and how thoughtful design—like that behind the BC Services Card—can change everything.

This episode sheds light on why digital identity isn't about government overreach, but about creating secure, people-centered systems. From the risks of emailing ID photos to the myth of privacy in the current internet model, this is a must-listen for compliance officers, real estate professionals, and anyone concerned with fraud prevention and identity security. Joni’s insights offer a practical roadmap for how digital tools can be both private and powerful—when built with empathy and integrity.

Key Highlights

1. Digital Trust Isn’t Just Tech Talk -  Learn how trust is an outcome, not a product—and why that matters for digital systems.
2. Misconceptions Fuel Resistance -  Hear how digital identity often gets wrongly tangled in political fears and conspiracy narratives.
3. Why BC Got It Right -  Discover how thoughtful implementation and opt-in design make the BC Services Card a strong model.
4. The Privacy Paradox -  Understand why traditional ID processes (like emailing driver's licenses) are far less private than they seem.
5. AML’s Digital Future -  Get a clear picture of how digital ID will shape anti-money laundering strategies and fraud prevention.

About the Guest: 

As the President of the Digital ID and Authentication Council of Canada – DIACC, Joni harnesses over 20 years of expertise in identity and access management innovation, adoption, and industry standards development. Joni spearheads initiatives that align with the organization’s vision of creating a robust digital identity ecosystem. This ecosystem propels the digital economy forward and contributes to the growth of Canada’s GDP, ensuring benefits for all Canadians. With a passion for building diplomatic and impactful relationships, Joni is at the forefront of formalizing strategic partnerships that drive positive change. Her influence extends to influential committees and organizations such as the SCC Data Governance Initiative, OECD, ITAC, ISOC, IEEE, OASIS, ISO, and ITU-T.

https://diacc.ca/ 

https://www.linkedin.com/in/jonibrennan/ 

Connect with Greg and ReallyTrusted at:

https://reallytrusted.com/

https://www.facebook.com/ReallyTrusted/

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Mortgage fraud isn’t just a risk—it’s a ripple effect that touches every part of the system, from brokers to banks to everyday Canadians. Greg welcomes Paul Therien of Haystax Mortgages for a grounded conversation on how systemized compliance helps brokers avoid costly mistakes, protect consumers, and reduce regulatory pressure. Together, they break down the real cost of fraud, why predictable processes matter, and how compliance—done right—can be a key driver of business success.

Highlights:

• Learn why compliance isn't just regulation—it's the foundation of smart, efficient operations.
• Understand the connection between fraud, housing affordability, and economic consequences.
• Discover how systemizing compliance can reduce errors and build consumer trust.
• See why lenders, not just regulators, demand fraud-free, consistent files.
• Gain insight into how transparency and education improve industry standards.

Connect with Paul Therien at Haystax Mortgages: https://haystax.ca/ 

Connect with Greg and ReallyTrusted at:

https://reallytrusted.com/

https://www.facebook.com/ReallyTrusted/

Thanks for listening

Thanks so much for listening to our podcast! If you enjoyed this episode and think that others could benefit from listening, please share it using the social media buttons on this page.

Do you have some feedback or questions about this episode? Leave a comment in the section below!

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Sometimes the biggest AML risk isn’t external—it’s the person already inside your brokerage. 

Greg breaks down the uncomfortable but critical reality that some individuals may enter the real estate or mortgage industry with the sole purpose of laundering money. He shares practical ways compliance officers and business owners can protect their organizations through smarter recruiting, effective transaction monitoring, and internal training that keeps every part of your business alert to red flags, even when they’re subtle.

Highlights:

• Discover how patterns—not individual deals—can reveal suspicious behavior.
• Learn why transaction monitoring is more powerful when viewed at scale.
• Understand how training admin staff can be your hidden AML asset.
• Get insight into how adverse media checks on staff can alert you to risk.
• Explore how recruiting processes can reduce the chance of onboarding bad actors.

Connect with Greg and ReallyTrusted at:

https://reallytrusted.com/

https://www.facebook.com/ReallyTrusted/

Thanks for listening

Thanks so much for listening to our podcast! If you enjoyed this episode and think that others could benefit from listening, please share it using the social media buttons on this page.

Do you have some feedback or questions about this episode? Leave a comment in the section below!

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Most compliance officers see effectiveness reviews as a regulatory checkbox, but they can make or break a FINTRAC exam. Greg sits down with Rodney MacInnes from Outlier Compliance Group to break down the critical role of these reviews, how they reveal compliance gaps, and why expertise matters when conducting them. They discuss who should perform these reviews, why the cheapest option isn't always best, and how a proper review can help businesses avoid costly mistakes before FINTRAC gets involved.

Highlights:

1. Learn why effectiveness reviews are more than just a regulatory requirement.
2. Discover the common mistakes businesses make in compliance audits.
3. Understand the difference between meeting regulatory requirements and having an effective program.
4. Find out why expertise matters when selecting a reviewer and what credentials to look for.
5. Gain insights into how a strong effectiveness review can prepare you for a FINTRAC exam.

About the Guest: 

Rodney MacInnes is a seasoned financial compliance expert specializing in anti-money laundering (AML), counter-terrorist financing (CTF), fraud, and legislative compliance management (LCM). With experience across money services businesses (MSBs), mortgage companies, corporate trusts, transfer services, and financial institutions, he now consults across these industries and beyond. A Certified Anti-Money Laundering Specialist (CAMS) since 2011 and a graduate of Seneca College’s Financial Crime Analysis course, Rodney’s passion for compliance began when an early training session led him to a conversation about an FBI case, sparking his interest in the field. Known for his problem-solving skills and expertise in procedure creation, process alignment, and business integration, Rodney embodies the belief that “good compliance can enable good business.”

https://www.outliercanada.com/ 

https://www.linkedin.com/in/rodmacinnes/

Connect with Greg and ReallyTrusted at:

https://reallytrusted.com/

https://www.facebook.com/ReallyTrusted/

Thanks for listening

Thanks so much for listening to our podcast! If you enjoyed this episode and think that others could benefit from listening, please share it using the social media buttons on this page.

Do you have some feedback or questions about this episode? Leave a comment in the section below!

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Ratings and reviews from our listeners are extremely valuable to us and greatly appreciated. They help our podcast rank higher on Apple Podcasts, which exposes our show to more awesome listeners like you. If you have a minute, please leave an honest review on Apple Podcasts.

Compliance in the mortgage sector is evolving fast, and unexpected challenges are keeping brokers and compliance officers on their toes. Greg sits down with Mary Gronkowski, National Director of Compliance at DLC Mortgages, to discuss the sector’s first few months under FINTRAC regulations. They break down onboarding challenges, red flags in ID verification, the complexity of beneficial ownership, and recent regulatory shifts—plus, the critical importance of staying updated to avoid compliance pitfalls.

Highlights:

1. Learn how mortgage brokerages are navigating FINTRAC registration and early compliance challenges.
2. Understand the risks and solutions in verifying ID, including dual process and remote verification.
3. Explore real-world cases of fraudulent transactions and how brokers identified red flags.
4. Gain insight into beneficial ownership complexities and the knowledge gap in commercial transactions.
5. Stay ahead of recent regulatory updates, including changes to terrorist property reporting.

About the Guest: 

As the Vice President of Training & Business Development at Dominion Lending Centres, Mary Gronkowski provides comprehensive training and support to franchise owners and agents. Her training covers strategic business-building initiatives, DLC’s powerful Autopilot Media Email Marketing software, CRM, Velocity, social media, compliance, and lead generation tools available to DLC brokers. Additionally, she plays a key role in team growth through recruitment and supports new franchise development.

Beyond her professional role, Mary is dedicated to giving back and helping those in need. She believes that having a stable home is one of life’s fundamental necessities, providing individuals with safety, dignity, and stability.

https://marygronkowski.ca/  

https://www.linkedin.com/in/mary-gronkowski/ 

https://www.facebook.com/mary.gronkowski 

https://www.youtube.com/user/DLCcanada 

https://www.instagram.com/mary_gronk  

Connect with Greg and ReallyTrusted at: 

https://reallytrusted.com/ 

https://www.facebook.com/ReallyTrusted/

Thanks for listening!

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Do you have some feedback or questions about this episode? Leave a comment in the section below!

Follow the podcast

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Leave us an Apple Podcasts review

Ratings and reviews from our listeners are extremely valuable to us and greatly appreciated. They help our podcast rank higher on Apple Podcasts, which exposes our show to more awesome listeners like you. If you have a minute, please leave an honest review on Apple Podcasts. 

The landscape of AML compliance in Canadian real estate took significant turns in 2024, challenging the industry to adapt rapidly to regulatory updates. From FINTRAC’s revamped risk assessments to new obligations for mortgage brokers and heightened scrutiny on sanctions evasion, the year underscored the growing complexity of compliance. As the sector grapples with operational and training challenges, Greg and Daniel outline key developments and offer actionable insights to prepare for 2025—a year certain to bring further changes and demands on compliance officers and real estate professionals alike.

Key Highlights

• Discover how FINTRAC’s new risk assessment forms reshaped compliance expectations for real estate brokerages.
• Learn about the expanded obligations for mortgage brokers as new FINTRAC reporting entities.
• Understand the implications of sanctions evasion enforcement and the critical role of beneficial ownership verification.
• Gain insights into practical strategies for navigating compliance examinations successfully.
• Explore predictions for 2025, including the FATF mutual evaluation’s potential impact on the AML landscape.

Connect with Greg and ReallyTrusted at:

https://reallytrusted.com/

https://www.facebook.com/ReallyTrusted/

Thanks for listening

Thanks so much for listening to our podcast! If you enjoyed this episode and think that others could benefit from listening, please share it using the social media buttons on this page.

Do you have some feedback or questions about this episode? Leave a comment in the section below!

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Ratings and reviews from our listeners are extremely valuable to us and greatly appreciated. They help our podcast rank higher on Apple Podcasts, which exposes our show to more awesome listeners like you. If you have a minute, please leave an honest review on Apple Podcasts.

Chris Thompson, Senior Investigator with the BC Securities Commission, to unpack the growing problem of "pig butchering" scams. Chris explains how fraudsters build trust over time, manipulating victims into draining their savings through elaborate schemes—many involving crypto transfers, fake platforms, and recovery scams. With stories of unsuspecting victims and shocking insights into how organized these global fraud networks are, this conversation is an essential wake-up call for anyone involved in financial transactions or working with vulnerable clients. Chris emphasizes the importance of vigilance, asking questions, and recognizing red flags like sudden large financial withdrawals or out-of-character transactions. Whether you're a frontline real estate agent, mortgage broker, or financial professional, staying aware of these indicators can help stop fraud before it starts.

Key Takeaways:

• Fraudsters coach victims on what to say to avoid raising red flags with financial institutions or advisors.
• Victims are often targeted during periods of emotional vulnerability, such as after a loss, divorce, or job change.
• Scammers manipulate online banking and crypto accounts, showing fake balances to gain trust.
• Pig butchering scams are sophisticated operations with HR departments, scripts, and extensive infrastructure.
• Always verify investment opportunities through trusted, registered sources and question any suspicious transactions.

About the Guest

Learn More about Christ at: https://www.bcsc.bc.ca/guardians/meet-our-enforcement-staff-investigator-chris-thompson

Connect with Greg and ReallyTrusted at:

https://reallytrusted.com/

https://www.facebook.com/ReallyTrusted/

Thanks for listening

Thanks so much for listening to our podcast! If you enjoyed this episode and think that others could benefit from listening, please share it using the social media buttons on this page.

Do you have some feedback or questions about this episode? Leave a comment in the section below!

Subscribe to the podcast

If you would like to get automatic updates of new podcast episodes, you can subscribe to the podcast on Apple Podcasts or Stitcher. You can also subscribe in your favorite podcast app.

Leave us an Apple Podcasts review

Ratings and reviews from our listeners are extremely valuable to us and greatly appreciated. They help our podcast rank higher on Apple Podcasts, which exposes our show to more awesome listeners like you. If you have a minute, please leave an honest review on Apple Podcasts.

Human trafficking happens in plain sight and is often sustained by organized networks operating within seemingly legitimate businesses. In this episode, Jinisha Bhatt, an anti-financial crime consultant and investigator, sheds light on the chilling realities of human trafficking in Canada. She outlines how criminal networks exploit systemic vulnerabilities to traffic individuals, launder funds, and evade detection, focusing on illicit massage businesses as a case study. Bhatt emphasizes the responsibility of professionals in real estate, finance, and property management to recognize red flags and take incremental steps to disrupt these criminal enterprises. Bhatt highlights the profound human cost of trafficking and the critical need for a coordinated, multidisciplinary approach involving law enforcement, property managers, licensing authorities, and financial crime professionals. She also discusses how collaboration and awareness can help dismantle trafficking networks, empower victims, and reduce exploitation. This episode not only informs but inspires action, demonstrating how small changes in vigilance and reporting can contribute to meaningful progress against human trafficking.

Key Takeaways

• Traffickers rely on complex, multi-role networks, including recruiters, "mamasans," money handlers, and legal professionals to sustain their operations.
• Red flags in illicit businesses include generic branding, restricted access, cash-heavy transactions, and excessive surveillance.
• Trafficking networks exploit loopholes in licensing, immigration, and financial systems to operate with minimal risk.
• Incremental actions like raising awareness, identifying suspicious patterns, and improving reporting accuracy can make a difference.
• Effective intervention requires multidisciplinary collaboration among law enforcement, financial professionals, and community stakeholders.

Resources Mentioned

• FINTRAC's special bulletin on lawyers' involvement in money laundering was referenced.

Guest bio:

Jinisha Bhatt is the Founder of CAHTC (Canada Anti-Human Trafficking Consortium) and an anti-financial crime investigator operating at the critical intersection of Anti-Money Laundering (AML) and Human Trafficking (HT). She specializes in multi-jurisdictional crypto fraud and money laundering investigations, focusing on the profound human cost of financial crime. Drawn to the field by a strong belief that most crimes against humanity, society, and the environment are financially motivated, Jinisha sees her work as a way to make a meaningful impact on these issues.

Learn more about CAHTC at www.fighthumantrafficking.ca or connect with Jinisha on LinkedIn at www.jinisha.ca

Connect with Greg and ReallyTrusted at:

https://reallytrusted.com/

https://www.facebook.com/ReallyTrusted/

Thanks for listening

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Leave us an Apple Podcasts...

Human trafficking is an urgent issue, today we begin to understand its impact in Canada, Guest Jinisha Bhatt brings valuable insights from her work in this field. The discussion, led by the CEO of an anti-money laundering company, unpacks the critical role financial professionals and companies play in identifying and combating human trafficking. The CEO shares their own journey in learning about this complex area, highlighting both personal and professional pressures to address human trafficking in a meaningful way.

Jinisha's expertise guides the conversation toward practical strategies for identifying financial red flags associated with human trafficking. This episode is a must-listen for compliance professionals and corporate leaders looking to deepen their understanding of the intersection between compliance and social responsibility. It calls for greater awareness and proactive measures to disrupt criminal networks profiting from human exploitation.

Key Takeaways:

• Human trafficking has significant implications for financial institutions that must detect and disrupt criminal activity.
• Anti-money laundering (AML) efforts are essential in combating human trafficking by identifying suspicious transactions and patterns.
• Collaboration across industries can enhance efforts to reduce trafficking and provide greater protections for at-risk individuals.
• Corporate leadership must embrace a commitment to social responsibility to address human trafficking effectively.
• Increasing awareness of human trafficking indicators among financial teams can lead to more effective interventions.

Guest Bio:

Jinisha Bhatt is the Founder of CAHTC (Canada Anti-Human Trafficking Consortium) and an anti-financial crime investigator operating at the critical intersection of Anti-Money Laundering (AML) and Human Trafficking (HT). She specializes in multi-jurisdictional crypto fraud and money laundering investigations, focusing on the profound human cost of financial crime. Drawn to the field by a strong belief that most crimes against humanity, society, and the environment are financially motivated, Jinisha sees her work as a way to make a meaningful impact on these issues.

Learn more about CAHTC at www.fighthumantrafficking.ca or connect with Jinisha on LinkedIn at www.jinisha.ca

Connect with Greg and ReallyTrusted at:

https://reallytrusted.com/

https://www.facebook.com/ReallyTrusted/

Thanks for listening

Thanks so much for listening to our podcast! If you enjoyed this episode and think that others could benefit from listening, please share it using the social media buttons on this page.

Do you have some feedback or questions about this episode? Leave a comment in the section below!

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If you would like to get automatic updates of new podcast episodes, you can subscribe to the podcast on Apple Podcasts or Stitcher. You can also subscribe in your favorite podcast app.

Leave us an Apple Podcasts review

Ratings and reviews from our listeners are extremely valuable to us and greatly appreciated. They help our podcast rank higher on Apple Podcasts, which exposes our show to more awesome listeners like you. If you have a minute, please leave an honest review on Apple Podcasts.

As the mortgage sector navigates new FINTRAC regulatory requirements, dive into unique insights from the ReallyTrusted team, with insights from Catagay Sen and Taylor Cameron. With the recent expansion of FINTRAC oversight to mortgage brokers, both professionals share critical observations on challenges faced by designated individuals and principal brokers in implementing compliance measures. Taylor’s experience speaking to new and potential clients’ sheds light on common misconceptions, while Catagay offers a deep dive into the evolving, policy-specific concerns mortgage brokerages encounter. Together, they discuss the ways ReallyTrusted is helping client’s approach FINTRAC compliance with clarity and confidence, helping ensure these new requirements are met effectively.

This episode offers an essential look at the early days of FINTRAC’s regulations in the mortgage sector, uncovering valuable insights for brokerages looking to stay compliant and prepared.

Key Takeaways:

• Many mortgage brokerages face challenges understanding their role under FINTRAC regulations.
• Designated individuals often need help crafting policies tailored to new compliance standards.
• Misunderstandings are common around what data must be recorded and reported.
• Brokerages frequently underestimate the time and resources required for full compliance.
• ReallyTrusted provides tailored programs to help brokerages meet compliance requirements efficiently.

Connect with Greg and ReallyTrusted at:

https://reallytrusted.com/

https://www.facebook.com/ReallyTrusted/

Thanks for listening

Thanks so much for listening to our podcast! If you enjoyed this episode and think that others could benefit from listening, please share it using the social media buttons on this page.

Do you have some feedback or questions about this episode? Leave a comment in the section below!

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Leave us an Apple Podcasts review

Ratings and reviews from our listeners are extremely valuable to us and greatly appreciated. They help our podcast rank higher on Apple Podcasts, which exposes our show to more awesome listeners like you. If you have a minute, please leave an honest review on Apple Podcasts.

In this episode, host Greg Dent sits down with Chris Thompson, a former lawyer who now works in the provincial government's financial crimes capacity. They dive into the topic of Unexplained Wealth Orders (UWOs), a powerful tool in the fight against financial crime that has recently been introduced in Canada, starting with British Columbia.

Chris provides a comprehensive overview of UWOs, explaining that they are court orders that compel individuals to explain the source of funds for their assets, even without a criminal conviction. He highlights how UWOs are an important tool for law enforcement, as they help overcome the challenges of tracing complex financial transactions, particularly when it comes to organized crime.

The discussion explores the controversial aspects of UWOs, such as the lower standard of proof required compared to criminal convictions. This raises concerns about the presumption of innocence and the potential for abuse. However, Chris argues that there are safeguards in place, such as the need for court approval, and that UWOs are necessary to prevent criminals from living off the proceeds of their crimes.

The episode also delves into a case study of the successful use of UWOs in the UK, the Haji-Ioannou case, which demonstrates the effectiveness of this tool in addressing suspected proceeds of crime. Additionally, the conversation touches on the practical considerations and future directions for UWOs in Canada, as other provinces may follow BC's lead in introducing this legislation.

Overall, this episode provides a comprehensive understanding of Unexplained Wealth Orders, their importance in the fight against financial crime, and the ongoing debate around balancing law enforcement powers and civil liberties.

Key Takeaways:

• Unexplained Wealth Orders (UWOs) are a court order that compels individuals to explain the source of funds for assets, even without a criminal conviction.
• UWOs are an important tool in fighting organized crime and removing the proceeds of crime, as they help law enforcement overcome challenges in tracing complex financial transactions.
• The lower standard of proof required for UWOs(reasonable grounds to suspect) compared to criminal convictions is controversial, as it raises concerns about the presumption of innocence.
• Effective implementation of UWOs requires a balance between empowering law enforcement and protecting civil liberties, with safeguards such as court approval.
• UWOs have been successfully used in other jurisdictions, such as the high-profile Haji-Ioannou case in the UK, and are now being introduced in Canada, starting with British Columbia.

Learn more about Chris at https://www.bcsc.bc.ca/guardians/meet-our-enforcement-staff-investigator-chris-thompson

Connect with Greg and ReallyTrusted at:

https://reallytrusted.com/

https://www.facebook.com/ReallyTrusted/

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In this episode of The KYC Podcast, host Greg Dent is joined by Zahra and Catagay from the ReallyTrusted team to discuss the intricacies of the Electronic Compliance Assessment Report (eCAR) - a crucial tool used by FinTRAC to assess compliance with anti-money laundering and counter-terrorist financing regulations. The conversation delves into the purpose and structure of the eCAR, the types of questions it encompasses, and the potential challenges reporting entities may face when completing this assessment. Importantly, the hosts highlight the opportunity the eCAR presents for proactive compliance, emphasizing the benefits of honesty and transparency when addressing any identified deficiencies.

Key Takeaways:

• eCARs are electronic questionnaires used by FinTRAC to evaluate the effectiveness of reporting entities' compliance programs and identify potential risks.
• The questions cover a wide range of topics, including business practices, transaction types, and the five pillars of a compliance program.
• Challenges may arise if the compliance program is not well-documented or if there are gaps in policies and procedures.
• Honesty is crucial when completing the eCAR - voluntary disclosure of non-compliance can be a valuable tool to address deficiencies.
• FinTRAC generally prefers a collaborative approach, providing opportunities for reporting entities to remediate issues and improve their compliance posture.

Resources:

• Contact the Really Trusted team for guidance on navigating the eCAR process and strengthening your compliance program.

Connect with Greg and ReallyTrusted at:

https://reallytrusted.com/

https://www.facebook.com/ReallyTrusted/

Thanks for listening

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Part 2 of "The Importance of Suspicious Transaction Reporting in Criminal Investigations": retired RCMP officer Stephen Scott shares a detailed case study that demonstrates how a single suspicious transaction report (STR) filed by a financial institution was crucial in unraveling a complex money laundering and organized crime investigation. The discussion highlights the importance of frontline reporting, the challenges in connecting the dots, and the significant impact that STRs can have in taking down criminal enterprises and seizing their illicit assets.

Key Takeaways:

• A high-level criminal target came to the attention of law enforcement after being shot, leading to a deeper investigation into his activities and assets.
• Despite no initial STRs being filed on the target, the investigation uncovered his lavish lifestyle and suspicious financial transactions, including a $1.6 million home purchase by a 23-year-old with no apparent legitimate income.
• A single STR on an $88,000 Lamborghini purchase led to the identification of a bank account, which then allowed investigators to trace a web of financial transactions and accounts connected to the criminal enterprise.
• The case underscores the importance of frontline reporting, as even small, seemingly insignificant transactions can be the key that unlocks a much larger investigation.
• The discussion emphasizes that money laundering is not just about cash transactions, but also the acquisition of assets and the concealment of the true beneficial ownership, which can occur in small towns and communities as well as larger urban centers.

Stephen Scott

Company: S Scott (AML) and Security Consulting

Email: stephenscott@sscottamlsconsulting.com 

Bio 

Stephen Scott is a former member of the RCMP and in 2017 through 2021 was an investigations and training consultant to the UNODC GPML in Southern Africa. While in the RCMP, Stephen worked in the Calgary Integrated Proceeds of Crime AML Unit, INSET and the IMET JSIU where he managed and conducted money laundering, asset forfeiture, organized crime and terrorist financing investigations for 24 years. As a member of the RCMP IPOC AML Unit Stephen served as the FINTRAC liaison, CBSA currency interdiction contact and the “gatekeeper” to the Alberta Justice Civil Forfeiture program. He was a designer and facilitator on the RCMP Advanced and Basic Proceeds of Crime / ML courses as well as a facilitator at the Canadian Police College for the National Expert Witness training and Drafting Information to Obtain search warrants courses.

In 2019/20, Stephen Scott served on contract as a sworn member of the Royal Cayman Islands Police Service Bureau of Financial Investigations conducting international money laundering and asset forfeiture investigations. 

Currently, Stephen is a licensed Private Investigator in Alberta and is currently contracted to firms that conduct due diligence, background, OSINT and asset recovery investigations. 

Connect with Greg and ReallyTrusted at:

https://reallytrusted.com/

https://www.facebook.com/ReallyTrusted/

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In this episode, Greg is joined by Stephan Scott, a retired RCMP officer with 31 years of experience in organized crime and money laundering investigations. Stephan provides a powerful perspective on the importance of suspicious transaction reporting, explaining how the information gathered by reporting entities like real estate professionals can be crucial in supporting criminal investigations. He shares gripping stories from his career to illustrate how money laundering is deeply connected to serious predicate crimes like drug trafficking and human trafficking. While individual suspicious transaction reports may not directly lead to arrests, Stephan emphasizes that they become part of a larger puzzle that investigators use to uncover criminal activity. He encourages reporting entities to file STRs whenever they have reasonable grounds to suspect suspicious activity, as this information can make a meaningful difference even if the individual impact is not immediately visible. Overall, this episode provides valuable insights into the real-world impact of compliance efforts and the critical role that reporting entities play in supporting law enforcement's fight against organized crime and money laundering

Key Takeaways:

• Money laundering is not just an abstract financial crime - it is closely tied to serious predicate crimes like drug trafficking, human trafficking, and violent organized crime.
• The information reported through suspicious transaction reports (STRs) and other financial intelligence can be crucial in informing and advancing criminal investigations.
• While individual STRs may not directly lead to arrests, they become part of a larger puzzle that investigators use to uncover criminal activity.
• It is important for reporting entities like real estate professionals to file STRs when they have reasonable grounds to suspect suspicious activity, as this information can make a difference even if the individual impact is not immediately visible.
• FINTRAC, Canada's financial intelligence unit, analyzes STRs and other financial data to generate intelligence disclosures that are provided to law enforcement to support investigations.

About the guest: Stephen Scott

Stephen Scott is a former member of the RCMP and in 2017 through 2021 was an investigations and training consultant to the UNODC GPML in Southern Africa. While in the RCMP, Stephen worked in the Calgary Integrated Proceeds of Crime AML Unit, INSET and the IMET JSIU where he managed and conducted money laundering, asset forfeiture, organized crime and terrorist financing investigations for 24 years. As a member of the RCMP IPOC AML Unit Stephen served as the FINTRAC liaison, CBSA currency interdiction contact and the “gatekeeper” to the Alberta Justice Civil Forfeiture program. He was a designer and facilitator on the RCMP Advanced and Basic Proceeds of Crime / ML courses as well as a facilitator at the Canadian Police College for the National Expert Witness training and Drafting Information to Obtain search warrants courses.

In 2019/20, Stephen Scott served on contract as a sworn member of the Royal Cayman Islands Police Service Bureau of Financial Investigations conducting international money laundering and asset forfeiture investigations. 

Currently, Stephen is a licensed Private Investigator in Alberta and is currently contracted to firms that conduct due diligence, background, OSINT and asset recovery investigations. 

Email: stephenscott@sscottamlsconsulting.com

Connect with Greg and ReallyTrusted at:

https://reallytrusted.com/

In this episode, Greg delves into the real estate industry's ongoing struggles with FINTRAC (Financial Transactions and Reports Analysis Centre of Canada) compliance. Drawing from his extensive experience training thousands of real estate agents, Greg unpacks the unique challenges the sector faces in adhering to anti-money laundering and counter-terrorist financing regulations. He explores the industry's structural issues, misaligned incentives, regulatory pressures, and the need for a shift in the "tone from the top" to drive meaningful compliance.

Key Takeaways:

• The real estate industry's fragmented, small-business structure poses inherent challenges in implementing robust FINTRAC compliance programs.
• Misaligned incentives, where agents' sales-driven focus can conflict with compliance obligations, contribute to the industry's struggles.
• Regulatory changes and the "compliance squeeze" have overwhelmed many real estate brokerages, leaving them with limited bandwidth to prioritize FINTRAC requirements.
• Industry leaders' perceived indifference towards FINTRAC compliance has trickled down, leading some agents to believe that form-filling alone is sufficient.
• Targeted FINTRAC training and compliance support programs can help real estate brokerages better understand and fulfill their obligations, driving improved reporting and risk management.

Connect with Greg and ReallyTrusted at:

https://reallytrusted.com/

https://www.facebook.com/ReallyTrusted/

Thanks for listening

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Greg sits down with Zahra Sunderani, a seasoned expert in the Anti-Money Laundering (AML) sector, to discuss the critical role of adverse media in safeguarding businesses, especially in the real estate industry. They delve into the concept of adverse media, its importance, and practical approaches to implementing effective checks. Zahra shares compelling examples of how adverse media has uncovered significant criminal activities and discusses the broader implications for businesses.

Key Takeaways:

• What adverse media is and why it is crucial for businesses, especially in real estate, to monitor it.
• Addressing common concerns from professionals about the necessity and burden of conducting adverse media checks.
• Exploring the balance between necessary due diligence and potential overreach into clients' lives.
• Real life examples uncovered through adverse media and the ttool’s power in revealing hidden criminal activities.
• Understanding the financial implications of continuous adverse media checks and the necessity of budgeting for these essential activities.
• Insights into the evolving landscape of adverse media and the importance of staying informed and vigilant.

Connect with Greg and ReallyTrusted at:

https://reallytrusted.com/

https://www.facebook.com/ReallyTrusted/

Thanks for listening

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Do you have some feedback or questions about this episode? Leave a comment in the section below!

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Greg is joined by Rodney MacInnes, a compliance expert with over 17 years of experience in the money services and real estate industries, as they discuss the challenges of risk management and anti-money laundering (AML) compliance in the real estate sector. Rodney shares a compelling story about identifying potential mortgage fraud through discrepancies in bank statements, and provides insights into building effective AML policies and procedures.

Key Takeaways:

• The real estate industry struggles with risk management due to a lack of guidance and information from regulators like FINTRAC. Operational briefs from FINTRAC will be crucial in helping the industry understand the risks and indicators to look for.
• Detecting money laundering in real estate transactions is particularly challenging, as the real estate sector is often the final stage of he money laundering process, making it harder to trace the criminal origins of the funds.
• Proactive compliance measures, such as investigating discrepancies in client documentation, can uncover hidden risks like mortgage fraud. Rodney's story demonstrates the importance of thinking creatively about potential risks.
• AML policies and procedures should focus not only on external risks, but also on internal risks within the organization, such as inconsistent reporting of suspicious transactions by staff members.
• Ongoing staff training and monitoring are essential to ensure compliance, as industry incentives to complete transactions can lead to complacency and overlooking red flags.

Connect with Greg and ReallyTrusted at:

https://reallytrusted.com/

https://www.facebook.com/ReallyTrusted/

Thanks for listening

Thanks so much for listening to our podcast! If you enjoyed this episode and think that others could benefit from listening, please share it using the social media buttons on this page.

Do you have some feedback or questions about this episode? Leave a comment in the section below!

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In this premiere episode, host Greg Dent and special guest, Daniel Dent, introduce us to their company, ReallyTrusted, a Canadian technology provider with a mission to provide technologically under-served real estate professionals custom solutions that allow them to be more productive.  Listen in as they detail its history, vision, and commitment to compliance in the real estate industry. The conversation highlights the importance of FINTRAC compliance, emphasizing the need for education and understanding among realtors. They also address the challenges faced by compliance officers and the necessity for ongoing support and resources to maintain compliance.

Key Takeaways:

- The history and values of ReallyTrusted.

- Daniel’s technical background and role as CTO.

- The company's mission to simplify regulatory obligations for professionals.

- The significance of FINTRAC compliance for real estate agents.

- Upcoming episodes to include specific examples of suspicious transaction reports to explain the reporting process and outcomes.

- Continuous development of products and services in response to customer feedback to implement best practices for clients.

Connect with Greg and ReallyTrusted at:

https://reallytrusted.com/

https://www.facebook.com/ReallyTrusted/

Thanks for listening

Thanks so much for listening to our podcast! If you enjoyed this episode and think that others could benefit from listening, please share it using the social media buttons on this page.

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Join Greg Dent on the Know Your Compliance podcast as he explores the complex world of anti-money laundering (AML) and counter-terrorist financing (CTF).

This trailer episode introduces the journey that led to the creation of the podcast, offering deep insights into compliance, legislation, and the roles of compliance officers in Canadian real estate brokerages. Perfect for AML consultants, compliance officers, or anyone curious about white-collar crime prevention.