Canada: Money laundering inquiry kicks off in Vancouver


A major hearing on a case of money laundering – billions of dirty money funnelled through the B.C’s casinos, real estate, and luxury car sales is set to start by fall this year. A lot of findings have been done since 2017 when the provincial government facilitated three reports that identified the said billions of dollars as dirty. According to Peter German, a retired senior Mountie, several videos of the money packed in boxes and bags were seen, and many reports have been filed; however, no rigorous enforcement action has been taken by the regulators or the police. A report showed that about $5 billion was laundered through the B.C real estate industry in 2018 alone.

It was believed that something was not right in the government; however, individuals who were responsible for the criminal activity have not been brought under the law. Attorney General David Eby has been demanding actions on the money laundering since he was an opposition member; Eby hopes that the investigation will provide answers to emerging questions about the criminal activity and people behind it. In his effort, Eby also persuaded the federal government to facilitate actions including rewriting some Criminal Code sections that would make it easier for regulators to prosecute those behind the act but the government response has not been positive.