The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) has issued an alert regarding the use of cryptocurrencies in the laundering of proceeds from synthetic fentanyl and opioid trafficking. The alert includes new risk factors and indicators of synthetic opioid trafficking and production to combat money laundering of illicit funds linked to the nation’s drug problem. FINTRAC noted several red flags to help law enforcement agencies improve vigilance within the crypto sector, including large crypto-to-fiat conversions involving newly created accounts using multiple virtual wallets to obscure transaction origins. The agency reinforced the need for collaboration across the crypto ecosystem to detect and combat money laundering tied to the drug trade.