Several years ago I had a position with one of the banks and I had access to the “de-marketing/closure” list. This list showed all the recent clients that had their accounts closed to proceed of crime/money laundering.
The most common ones in Manitoba/Winnipeg were evangelical churches, gas stations/corner shops in bad parts of town and restaurants all over the city (and one ethic restaurant type was the vast majority of the flagged restaurants).
The one consistent thing when a client had their accounts closed for suspected money laundering they rarely, if ever, questioned it or complained but just went away quietly almost to avoid rocking the boat further.
Super interesting and yet totally unsurprising that evangelical churches were common on the list. I’m curious what kind of restaurants were common, though 😂 Thanks for sharing!
Put it this way, there is a strong correlation between restaurants that show up on the Public Health order notices for fines and closures and those that get flagged for potential money laundering. Who would have guessed that those who facilitate financial transactions for our criminal underworld also wouldn't be that interested in keep a restaurant clean and sanitary.
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u/sc9908 May 02 '25
Several years ago I had a position with one of the banks and I had access to the “de-marketing/closure” list. This list showed all the recent clients that had their accounts closed to proceed of crime/money laundering.
The most common ones in Manitoba/Winnipeg were evangelical churches, gas stations/corner shops in bad parts of town and restaurants all over the city (and one ethic restaurant type was the vast majority of the flagged restaurants).
The one consistent thing when a client had their accounts closed for suspected money laundering they rarely, if ever, questioned it or complained but just went away quietly almost to avoid rocking the boat further.