RCMP make arrest in "Black Money" Scam

TORONTO, Sept. 16, 2014 /CNW/ - The Royal Canadian Mounted Police GTA Financial Crime, with the assistance of the Ontario Provincial Police (OPP) arrested a Montreal man in a "black money" fraudulent scheme.  The male was found in possession of counterfeit currency and tools to "wash" the so-called "black money".

This arrest represents a growing concern within Canada of the resurgence of the "black money" scam being used to victimize unsuspecting Canadians.

Black money schemes generally involve cash only transactions with the victim of the scam being enticed by the perpetrators to meet in person so that they can be shown a large sum of the money they are to receive. The victim is shown a piece of paper the size of a bank note that is coloured black and then told that the money has been dyed black to conceal it for security purposes and that a fee is required from them in order to purchase chemicals or a solution to "clean" the money.

Some recent variations of the scam have involved suspects showing the would-be victims "white money" and a different "cleaning" process is presented. The "white money" when passed under a UV light reveals markings of Canadian or US currency.

The RCMP reminds Canadians to be vigilant when approached with "too good to be true" opportunities.

"Awareness of fraudulent schemes like this one and their variations, or others like employment offer, advance fee and marketing pitch scams over the internet, telephone or in person, is the best defense against becoming a victim." states Inspector John Shoemaker, Acting Officer in Charge of Financial Crime in the GTA.

The Canadian Anti-fraud Centre (CAFC) is jointly operated by the RCMP, the OPP and the Competition Bureau of Canada.  The CAFC assists law enforcement in investigations and helps members of the public in preventative fraud education.

If you suspect you are a victim of this or any other fraud you may contact CAFC at 1-888-495-8501 or report on-line at www.recol.ca.

FRAUD - Recognize it, Report it, Stop it!

SOURCE: Royal Canadian Mounted Police

For further information:

Inspector Ann Koenig
GTA Financial Crime Section
RCMP "O" Division
Office 905-876-9778

Website:   RCMP in Ontario
Twitter:      @RCMPONT
Facebook:  RCMP.Ontario


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