HomeNews ❯ Federal Minister Vows to Tackle Laundering as Experts Urge Inquiry

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Federal Minister Vows to Tackle Laundering as Experts Urge Inquiry

Money laundering is the Canadian shaped elephant in the room that simply will not go away at the moment. It is clear that the wide-reaching effects this has had on British Columbia as a province have been profound. This is why it is important for the province to get serious about tackling the issue instead of just talking about tackling the issue.

Ever since the Prime Minister weighed in on the money laundering problems plaguing the province, back in August 2018, British Columbians have been waiting expectantly for the ball to get rolling, but it hasn’t rolled very far. Well, it finally seems as though things are moving forward in the right direction, despite a few setbacks. Indeed, Attorney General David Eby seems more hopeful of action after federal meeting with Organized Crime Minister Bill Blair.

At this meeting, the two men made sure to discuss the issues at hand, and shared their visions for the future of the province, and how Canada could tackle its money laundering problem. One of the biggest developments has been the decision of the RCMP to share information with investigator Peter German to help expedite things and allow B.C. a better understanding of what it is dealing with. Blair was quoted as saying, “There is information that clearly both of our governments need and that we need to work on together. We are committed to make sure when information is available we make that possible.”

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It seems as though the focus will not be solely on casinos though. Indeed, it seems like both Eby and Blair feel like the real estate sector also needs to be assessed. Money laundering in real estate has been a big problem for years, and this is only becoming clear in more recent times. So, it is important to assess this area in addition to the more obvious problems with casino money laundering.

Experts have urged the province to launch an immediate inquiry into the money laundering practice known as the ‘Vancouver Model,’ as well as the growth of money laundering from casinos into real estate. It seems as though many B.C. natives would support a thorough inquiry as well, with a poll demonstrating that 3 in 4 would be in favour of a public inquiry.

The initial probes into money laundering have thrown up more and more red flags, not to mention implicating organisations and individuals. This is going to be a big investigation, and one that likely has a few more surprises in store yet. But, the hope is that this is the small step that is needed in order to bring down this money laundering enterprise, and help make the gambling scene in British Columbia clean once again.

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