Payments in the adult entertainment sector are being utilized to bypass

Payments in the adult entertainment sector are being utilized to bypass Russian sanctions in Canada.

Following Russia's invasion of Ukraine in 2022, several Russian banks were excluded from the SWIFT system.

According to a financial intelligence report, businesses linked to the adult entertainment industry are employing Canadian payment service providers to transfer funds abroad, thereby evading sanctions imposed on Russia by Western nations.

The confidential report, titled "Russia-linked Money Laundering through Intermediary Jurisdictions," was compiled by the Financial Transactions and Reports Analysis Centre of Canada, commonly referred to as FinTRAC. This federal financial intelligence unit is involved in the enforcement of sanctions.

Dated March 2023, the report reveals the clandestine movement of funds to individuals and entities associated with Russia through Canada and other jurisdictions, contravening economic measures intended to isolate Russia amid its ongoing conflict in Ukraine.