Pubdate: Mon, 06 Jun 2005
Source: Daily Herald-Tribune, The (CN AB)
Copyright: 2005 The Daily Herald-Tribune
Contact:  http://www.dailyheraldtribune.com/
Details: http://www.mapinc.org/media/804
Author: Kristy Lesh

POLICE WANT TO AIR OUT MONEY LAUNDERING ISSUES

Businesses in Grande Prairie may be unknowingly fuelling organized crime in 
the city by not being aware of money laundering and how to spot it, says a 
specialized RCMP section launching an awareness program.

The RCMP K Division's Integrated Proceeds of Crime section will be in 
Grande Prairie and surrounding areas making presentations July 11-15.

"The major financial institutions like the banks, they're regulated to have 
people to run compliance and make sure laws are being followed and what to 
look for, whereas car dealerships, jewelry stores, high retail business or 
even small retail business, they don't have the training. So we're 
spreading the word of what to watch for," said Cpl. Clayton Wilbern of IPOC.

He said there are more business sectors that are more susceptible to money 
laundering.

legitimize their money

"Drug traffickers, for example, have large sums of money that are proceeds 
of crime and they want to legitimize their money so they'll go to a car 
dealership and buy high-ticket items or they might even buy houses, or real 
estate or property.

"Down the road, they'll sell this property or sell these vehicles and 
they'll take the money from that and try to make it look like legitimate 
money."

Lionel Frey, executive director of the Grande Prairie Chamber of Commerce, 
said while some local business know what to look for, there is a need for 
more education.

"There definitely is an awareness," but he added, "There probably could be 
a better campaign promoted through the business community as far as the 
various types of crime and in particular the more sophisticated levels of 
crime."

And as the city grows, Frey says the need for education becomes more necessary.

"There certainly is an increase in concern," he said.

Cpl. Brent Mundle of the Grande Prairie RCMP said while they have no 
statistics about money laundering in the city, both it and the drug trade 
are closely related.

"In all likelihood it is occurring within our community, as to what the 
extent is though, we're not presently able to measure that," he said.

"You can see there is a large amount of money seized with regards to the 
drug trade and I would expect at some time money is going through various 
businesses."

Mundle said the detachment hasn't had many money-laundering investigations 
but often charge people with proceeds of crime when large amounts of money 
are seized.

The information sessions would be valuable for businesses that may not know 
what to look for, he said.

"I don't think there is probably a lot of knowledge in the community about 
it. I know banks and financial institutions are aware of it and they have 
different policies and regulations in regards to reporting some instances 
but your general day-to-day business probably doesn't have much knowledge 
about it."

Frey agreed and said it is something the chamber hopes to focus more on.

"I think there could be more awareness generated and that certainly is 
something the chamber is working on in the future is developing more of 
awareness on not just the basic types of crimes but virtually all types of 
crime."
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MAP posted-by: Jay Bergstrom