Tuesday, October 20, 2020

BC Real Estate Sector Submits Anti-Money Laundering Recommendations To Government

-

Organizations representing key professions in the BC real estate sector submitted joint recommendations to the provincial and federal governments today to help protect BC’s housing market from money laundering.

The participating organizations include the British Columbia Real Estate Association, the Appraisal Institute of Canada, BC Association, BC Notaries Association, Canadian Mortgage Brokers Association, British Columbia, and the Real Estate Board of Greater Vancouver.

In their submission, these organizations also commit to shared best practices to help keep the proceeds of organized crime out of the economy. Their efforts focus on helping protect the real estate market from unscrupulous operators and ensuring the public can have full confidence in BC’s real estate market. All of the organizations have fully supported and participated in the government’s investigations into money laundering and real estate.

A real estate transaction involves multiple professionals. It will take a coordinated effort by all involved, working in collaboration with government, to stop money laundering. The joint recommendations and best practices submitted by these organizations reflect their commitment to the professionals and consumers they serve.

- Advertisement -
- Advertisement -
- Advertisement -

MUST READ

Goldman to pay over $2 billion in DOJ’s 1MDB Probe

Goldman Sachs Group Inc. has reached a long-awaited pact with the U.S. Department of Justice to pay more than $2 billion for the bank’s...

Ex-managers of Security firm pleads guilty in Santa Clara County concealed gun permit bribery scandal

Two former managers of a Silicon Valley international security firm pleaded guilty Monday to charges related to a bribery scheme to obtain concealed firearms...

Ohio former House Speaker Larry Householder to stand for reelection amid bribery charges

Republican Rep. Larry Householder’s name will be on the ballot Election Day as the disgraced Ohio lawmaker intends to serve his district for another...

Billionaire Robert Smith to Pay $140 million after admitting to tax evasion

Billionaire Robert Smith will pay about $140 million and acknowledge wrongdoing to end a four-year U.S. tax investigation involving assets held in offshore tax...

Mexico’s ex-army chief arrested in US on charges of drug trafficking, money laundering

Former Mexican Defense Secretary Gen. Salvador Cienfuegos, who led the country’s armed forces for six years under then-President Enrique Peña Nieto, has been arrested...
Advertisement
Advertisement

Latest News

This Week

Federal prosecutors seek 24-30 months in prison for ex-Cincinnati Councilwoman Tamaya Dennard in bribery case

Because of the seriousness of the bribery scheme in which she was involved, former Cincinnati Councilwoman Tamaya Dennard should go to federal prison for 24 to...

Billionaire Robert Smith to Pay $140 million after admitting to tax evasion

Billionaire Robert Smith will pay about $140 million and acknowledge wrongdoing to end a four-year U.S. tax investigation involving assets held in offshore tax...

Crown Melbourne casino faces money laundering probe

Crown Resorts is facing a new threat to its casino licences and the prospect of multimillion-dollar fines after it was informed by Austrac, the...

German prosecutors fine Deutsche Bank $15.9m, drops money laundering probe

German prosecutors said on Tuesday they were dropping a money-laundering investigation against managers at Deutsche Bank DBKGn.DE, over its relations with Danske Bank's DANSKE.CO Estonian subsidiary, citing...
Advertisement

Adblock Detected!

Our website is made possible by displaying online advertisements to our visitors. Please consider supporting us by whitelisting our website.

Enable Notifications    Ok No thanks