Public's input wanted as panel looks to address dirty money in real estate
Vancouver's downtown core is seen in an image taken from Chopper 9 by CTV Vancouver's Pete Cline in April 2018.
The Canadian Press
Published Friday, November 9, 2018 1:04PM PST
The head of an expert panel on money laundering is asking for public input on how to better protect the province's real estate sector from dirty money.
Former deputy attorney general Maureen Maloney says in a statement it will help to hear from British Columbians, especially those with direct knowledge of the real estate sector and its legal framework, before the panel makes its recommendations to government in March.
The panel is investigating gaps in existing laws, consumer protections, financial services regulation, regulation of real estate professionals and jurisdictional gaps between B.C. and the federal government.
In June, former RCMP deputy commissioner Peter German released a report that found dirty money was being funnelled through the province's gaming industry, and the B.C. government also has reviews underway of money laundering in horse racing, luxury vehicles and the financial services sector.
- Drake was recently impacted by regulations in place to prevent money laundering at casinos. Read more here.
- Wondering how the problem grew in Vancouver? Here's more on how the city became a laundering hot spot.
The public is invited to participate until Friday, Dec. 14 at 4 p.m. More information is available on the government's Preventing Money Laundering website.