According to a report by *The Toronto Star*, the Financial Transactions and Reports Analysis Centre of Canada (Fintrac) stated in an internal memo that a significant portion of Canada's crypto OTC exchanges knowingly assist in money laundering and sanctions evasion. These activities are primarily linked to Iran, drug proceeds, and transnational organized crime. Data shows that from March 2022 to January 2026, these merchants conducted transactions totaling approximately $366 million, completing around 30,000 withdrawals and nearly 40,000 deposits. Fintrac noted that some merchants failed to report suspicious and large transactions as required, exhibited weak customer due diligence, inconsistent record-keeping, and concealed the nature of their business. Since 2026, Fintrac has revoked the registrations of 123 crypto businesses, imposed fines totaling $205 million on 17 companies, and referred 55 cases to law enforcement agencies. https://(wublock123.com)/news/canada-aml-regulator-crypto-otc-exchanges-alleged-money-laundering-sanctions-evasion-64987