RCMP and regulator's warning to cryptocurrency 'money mules' deemed 'toothless' by critic

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The RCMP and B.C. Securities Commission are offering the public a warning about text messages soliciting people to ultimately become money launderers.

A “warning” has been issued to 10 B.C. residents suspected of being witting or unwitting so-called “money mules” for international cryptocurrency fraud schemes, according to the RCMP Integrated Market Enforcement Team and the B.C. Securities Commission .

The suspected criminals are recruiting British Columbians with the lure of job offers, friendship and romance and then offering a portion of the transferred cryptocurrency funds as an incentive, added Sammy Wu, the commission’s manager of investigations. MacIntosh said the scheme is far-reaching and it’s unclear how many people are involved in these acts; however, “it’s becoming more prolific.”

“Warning letters instead of charges? How considerate. Trumpeted in a news release? How pathetic,” said Baines.

 

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