HTTP/1.0 200 OK Content-Type: text/html Stockmarket Used By Organized Crime
Pubdate: Thu, 29 Jan 2004
Source: Chomedey Laval News, The (CN QU)
Copyright: 2004 The Chomedey Laval News


Along with using casinos as a money laundering tool, drug lords and other 
criminals are believed to be using the stock market for their illicit 
activities. According to Quebec Securities Commission president Pierre 
Godin, even if activities go through legal corporations, the enormous 
benefits to their shareholders come at the price of laundering money from 
the drug trade and organized crime.

In an effort to find a solution to the growing problem, twenty countries 
will to sign information exchange agreements in the near future. Meanwhile, 
over the next few weeks, Quebec1s Minister of Finance Yves Seguin is 
expected to implement a special financial crimes unit. The squad would be 
composed of a mixture of Surete du Quebec inspectors, Revenue Quebec 
auditors and Securities Commission personnel.

According to Seguin, the new squad could recover up to one billion dollars. 
The RCMP has also announced that it would create its own financial crime 
investigating unit to fight the problem.
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