ICIJ investigation: the rise of crypto-to-cash desks

Investigative reporters have uncovered a network of these crypto-to-cash desks operating across Canada. And some of the transactions moving through them appear linked to crypto wallets allegedly associated with the Islamic Revolutionary Guard Corps.

So how could money tied to a sanctioned regime end up moving through Toronto?

Host Noor Azrieh speaks with reporters behind the global investigation, The Coin Laundry, and with financial-crime experts about how Iran and other sanctioned actors use cryptocurrency to move money around the world.

Then we zoom out. As the US-Israeli war in Iran escalates, Liberal MP Julie Dzerowicz joins us to explain what Canada is actually doing about it.

CORRECTION: This episode incorrectly identified Toronto Star journalist Sheila Wang as Sheila Edwards. We regret the error.

Host: Noor Azrieh

Credits: Aviva Lessard (Senior Producer), Sam Konnert (Host/Producer), Noor Azrieh (Host/Producer), Caleb Thompson (Audio Editor and Technical Producer), Max Collins (Director of Audio) Jesse Brown (Editor), Tony Wang (Artwork)

Guests: Spencer Woodman, Richard Sanders, Jessica Davis

Background reading:

• Suspicious transactions at GTA crypto shops reveal alleged links to Iran-backed terror groups. Is the regulator doing enough to police them? – Toronto Star
• From Dubai to Toronto, inside the crypto-to-cash storefronts fueling money laundering’s new frontier – International Consortium of Investigative Journalists
• Inside Canada’s shadowy crypto banking system that makes it easy to facilitate ‘an unlimited amount of crime’ – Toronto Star
• Iran’s Crypto Sector Was a Lifeline Through Sanctions. War Could Shut It Down – WIRED Middle East
• 2 charged in killing of former SFU instructor who was outspoken Iran critic – CTV News
• Police call shooting at U.S. consulate in Toronto 'national security incident,' seek 2 suspects – CBC News
• MPs demand answers about failure to deport and name Iranian regime officials – The Globe and Mail

Sponsors: 

Douglas is giving our listeners a FREE Sleep Bundle with each mattress purchase. Get the sheets, pillows, mattress and pillow protectors FREE with your Douglas purchase today at douglas.ca/canadaland

Visit fizz.ca to learn more about Fizz mobile and its long list of added-value features, and activate a first plan using the referral code CAN25 to get 25$ off and 10GB of free data.

And did you know we have a monthly supporter exclusive show? 

On the next episode of Off The Record, we’re asking you: What fake news story did you fall for? AI slop? An April Fools’ joke? Or something more sinister… 

Call in and let us know on Thursday, March 26th from 4:30pm to 6:30pm EST by going to callinstudio.com/show/canadaland or dialing in at 888-401-7056 when the time comes!

If you want to hear that (or if you want to catch up on all the great episodes of Off The Record you’ve missed!) become a supporter at canadaland.com/join or call in on March 26th and we’ll give you a free month of Canadaland premium.

If you value this podcast, Support us! You’ll get premium access to all our shows ad free, including early releases and bonus content. You’ll also get our exclusive newsletter, discounts on merch, tickets to our live and virtual events, and more than anything, you’ll be a part of the solution to Canada’s journalism crisis, you’ll be keeping our work free and accessible to everybody. 

Can't get enough Canadaland? Follow @Canadaland_Podcasts on Instagram for clips, announcements, explainers and more.

Hosted on Acast. See acast.com/privacy for more information.