Money laundering key focus


Photo: Twitter

Money laundering in British Columbia has become a top issue for the federal and provincial governments with federal Finance Minister Bill Morneau vowing a “crack down” Friday, while the province considers a public inquiry.

“The importance of dealing with money laundering concerns is something that is clearly on our agenda,” said Morneau at a news conference in Victoria. “We need to be very clear, we crack down on any issues around money laundering.”

Last year, an international anti-money laundering organization said in a report that up to $1 billion annually was being filtered through some B.C. casinos by organized crime groups. The B.C. government also cited an RCMP intelligence report that estimated up to $1 billion from the proceeds of crime was used to purchase expensive Metro Vancouver homes. An RCMP official said Friday the Mounties are searching their data bases to find the report the government has cited.  MORE

 

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