Information Technology
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May 15, 2024
OSC, police announce arrest of Whitby ‘crypto king’ in alleged, multimillion-dollar Ponzi scheme
The Ontario Securities Commission (OSC) has announced the arrest of a self-described “crypto king” from Whitby, Ont., and his business partner over allegations they ran a $40 million Ponzi scheme.
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May 15, 2024
FINTRAC: Cryptocurrency ATMs increasingly used for money laundering
Virtual currency automated teller machines (ATMs) are increasingly being used for money laundering, with the Greater Toronto Area, Greater Montreal and Metro Vancouver emerging as hotspots for suspicious transactions, according to Canada’s financial intelligence unit.
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May 14, 2024
Financial Consumer Agency of Canada releases business plan for 2024-25
The Financial Consumer Agency of Canada (FCAC) has released its business plan for 2024-2025, building on a number of strategic goals and paving the way for the federal government's vision for an open banking system.
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May 13, 2024
Alberta needs legislation to confirm power of fiduciaries extend to digital assets: law institute
When a person dies or becomes incapacitated, their money and property often fall under the management of a third-party fiduciary — and the law around that is long-standing and largely settled. But an Alberta-based legal institute is saying the time has come for the provincial government to change its rules on fiduciaries in order to deal with assets in the digital arena.
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May 10, 2024
FINTRAC imposes $6M administrative monetary penalty on Binance
A $6 million administrative monetary penalty has been imposed on cryptocurrency company Binance Holdings Limited for non-compliance with Part 1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and its associated regulations.
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May 07, 2024
Sweeping national security bill would boost state investigative powers; expand & create crimes, AMPs
The federal government has introduced a sweeping national security bill that would create a publicly accessible “foreign influence transparency” registry; expand the warrant, production and disclosure powers of the Canadian Security Intelligence Agency (CSIS); affect criminal accused or judicial review applicants seeking access to relevant “information related to international relations, national defence or national security”; expand the current “sabotage” offence; and create new “foreign interference” offences, along with administrative monetary penalties (AMPs) of up to $5 million and five years in prison, including for knowingly obstructing the operations of the office of a proposed new “Foreign Influence Transparency Commissioner.”
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May 07, 2024
Ontario privacy commissioner sides with province on disclosure of health-care staffing info
Ontario’s privacy watchdog has sided with the province in its attempts to keep information about staffing shortages in the health-care sector private.
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May 06, 2024
B.C. court stays action against Freedom Mobile over $63,000 loss in SIM swap fraud
The B.C. Supreme Court has stayed in favour of arbitration an action against Freedom Mobile concerning allegations that the company was negligent in permitting a SIM swap fraud that led to a customer losing Bitcoin worth approximately $63,100.
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May 03, 2024
Ontario Superior Court rules LifeLabs data breach information is not privileged
The results of an investigation into the massive 2019 data breach that affected millions of LifeLabs patients may now see the light of day after the Ontario Superior Court ruled that information that the medical lab-testing giant wanted to keep secret is not privileged.
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May 01, 2024
Federal government touts progress in reducing cellphone bills
Ottawa is claiming victory in its ongoing effort to reduce telecom prices in Canada, despite approving last year’s Rogers-Shaw merger.