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The Vancouver Model is the name anti-money laundering experts gave to a unique model observed in Vancouver, Canada. [5] It involves taking illicit cash earned through crime to a casino (often a VIP room), and gambling some of the proceeds. The chips are then cashed out of the casino as clean cash. To further obfuscate the funds in a money ...
The Financial Transactions and Reports Analysis Centre of Canada ( FINTRAC; French: Centre d'analyse des opérations et déclarations financières du Canada) is the national financial intelligence agency of Canada. FINTRAC was established in 2000 under the Proceeds of Crime (Money Laundering) Act to facilitate detection and investigation of ...
Snow washing refers to hiding illegitimate financial transactions often for purposes of tax evasion in Canada. [1] The term is an amalgam of the words snow referring to Canada having cold snowy winters and washing referring to money laundering. It is easy under Canadian law to set up a company, even for a fee as low as C$200, while shielding ...
Cullen Commission. The Cullen Commission (officially: Commission of Inquiry Into Money Laundering in British Columbia) is a money laundering inquiry established by the Canadian province of British Columbia. Currently all evidence has been presented, and the Commission was given an extension until May 20, 2022, to deliver its findings. [1]
Know Your Customer's Customer (KYCC) KYCC or Know Your Customer's Customer is a process that identifies a customer's customer activities and nature. This includes the identification of the customer's customers and assessing the risk levels associated with their activities. [6]
Forward Discount Rate 60% 40% 30% 25% 20% Discount Factor 0.625 0.446 0.343 0.275 0.229 Discounted Cash Flow (22) (10) 3 28 42 This gives a total value of 41 for the first five years' cash flows. MedICT has chosen the perpetuity growth model to calculate the value of cash flows beyond the forecast period.
R.J. Graham (ed.), Canadian Government Paper Money (30th ed.), (Toronto: Charlton Press, 2018). A.B. McCullough, "Currency Conversion in British North America, 1760–1900", (1983) 16 Archivaria 83. James Powell, A History of the Canadian Dollar (Ottawa: Bank of Canada, 2005). External links. Media related to Money of Canada at Wikimedia Commons
Discounting. In finance, discounting is a mechanism in which a debtor obtains the right to delay payments to a creditor, for a defined period of time, in exchange for a charge or fee. [1] Essentially, the party that owes money in the present purchases the right to delay the payment until some future date. [2]