MONEY LAUNDERING SEMINAR SCHEDULED

Have you ever wondered about where the proceeds of crime, including
the sale of illegal drugs go? Or have you witnessed or heard of a sale
involving large sums of cash?

"I know of a couple incidents, including a recent one in which
suspected drug traffickers made a large cash purchase," said Kootenay
Community Centre Society co-ordinator Dina Bambrick.

She contacted the RCMP to find more about money laundering and, as a
result, the Mer-chants Against Money Laundering (MAML) program will be
presented next week at the Creston and District Community Complex.

The presentation will discuss money-laundering methods, reasons why
criminals launder money and the global impacts of money laundering.
There are many ways in which criminals try to cycle money through
businesses and it is important that merchants are aware of how to
identify and prevent these types of criminal activities.

The MAML program is also looking to provide merchants with the
necessary knowledge to identify suspicious transactions and provide
tips on how to avoid accepting counterfeit money. In addition, the
program aims at increasing awareness of Canada's growing financial
intelligence unit, FINTRAC (Financial Transactions and Reports
Analysis Centre of Canada).

Criminals often target merchants that deal with big-ticket items or
that handle large cash transactions, in an effort to launder their
money.

Businesses such as car dealerships, boat dealers, real estate,
jewellers, aircraft services, recreational vehicles, banks, money
services and currency exchanges are strongly encourage to attend a
presentation. However, information regarding money laundering and
counterfeit is relevant to all business and the general public.

The 45-minute presentation will be presented at 7:30 p.m. in the
Lister Room on August 8. The presentation is free but donations to
help cover the cost of room rental will be gratefully accepted.