Guests: Toronto Star journalists Sheila Wang and Emma McIntosh

A major joint investigation involving the Toronto Star, CBC/Radio-Canada, La Presse and the International Consortium of Investigative Journalists has uncovered more than 100 crypto-to-cash operations running across Canada, with many of them unregistered, unregulated, and openly violating anti–money laundering laws. As part of this collaboration, Star reporters went undercover to see just how easy it is to turn anonymous cryptocurrency into hard cash with no ID and no record of the transaction.

In this episode, we break down how these crypto-to-cash services actually work, why experts say they pose a serious risk for money laundering, organized crime and other illicit activity, and why Canadian regulators have struggled to stop a parallel financial system that's operating in plain sight.

This episode was produced by Saba Eitizaz and Sean Pattendon.