Province to announce how it will address money laundering in BC real estate
Posted September 27, 2018 9:37 am.
Last Updated September 27, 2018 12:44 pm.
This article is more than 5 years old.
VANCOUVER (NEWS 1130) – We are about to learn more about how the provincial government aims to tackle money laundering in BC real estate.
Attorney General David Eby and Finance Minister Carole James are set to reveal how Victoria will address the criminal activity at 12:30 p.m. Thursday.
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This past summer, an independent report for the government revealed links between drugs, organized crime, real estate, and BC’s casino industry.
Dozens of recommendations were made, including a call for an independent regulator to oversee money laundering investigations and a designated policing unit for the gaming industry, with a focus on Lower Mainland casinos.
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Eby ordered the review last year after learning gamblers were entering casinos with hockey bags full of millions of dollars in small notes.
“The [Peter] German report paints a troubling picture of government that didn’t respond effectively to pervasive money laundering in BC casinos,” he said. “German found they didn’t effectively detect, prevent or prosecute it – they turned a blind eye to it.”
NEWS 1130 will bring you the latest out of Thursday’s news conference.
