Tuesday, October 27, 2020

Feds haven’t delivered on promises to combat money laundering: B.C.’s Attorney General

-

The Prime Minister has been doling out money across the country ahead of the fall election, but so far he hasn’t followed through on some significant promises in B.C.

B.C.’s Attorney General David Eby is blasting the federal government for failing to follow through on promises to help B.C. combat money laundering.

“If we’re on our own on this, the federal government should tell us that,” Eby says.

He says it’s been months since he raised the alarm about the extent of money laundering in B.C., but he hasn’t seen any resources or money coming from the federal government.

- Advertisement -

“It’s their responsibility, and to know that we’ve gone so long without any announcement of even one that I am aware of — additional police officer at the federal level working on this issue– is disturbing, and I think time is running out for them to take that action,” he says.

Related: British Columbia: David Eby says government still weighing public inquiry on money laundering

Eby is referring to the clock running out before the writ drops ahead of the federal election coming this fall.

He says if there are no federal officers or forensic accountants dedicated to combat money laundering, it means the work — which is under federal jurisdiction — is simply not being done.

“We’re going into a public inquiry on this in the fall, and I can’t imagine that this is going to be the way the federal government is going to go into that process, with people hearing evidence about how the problem got so out of control in British Columbia,” he says.

- Advertisement -

In May, B.C. unveiled two investigations into money laundering that found more than $7 billion in dirty money was being laundered in the province

The Prime Minister is making a stop in Surrey with Premier John Horgan on Thursday at noon.

MUST READ

Julius Baer to deny two former CEOs their bonuses over money laundering scandal

Julius Baer will withhold millions of francs in bonuses from its former chief executives Boris Collardi and Bernhard Hodler, as a result of a...

Goldman Sachs executives to cover part payments of $3 billion fines in 1MDB scandal

Nine current or former Goldman Sachs executives, including CEO David Solomon, will have to pay back hundreds of millions of dollars in compensation over...

Goldman Sachs agrees $3 billion settlement with US DoJ over 1MDB corruption scandal

Goldman Sachs has agreed to pay nearly $3bn (£2.3bn) in the US to end a probe of its role in Malaysia's 1MDB corruption scandal. The...

Hong Kong fines Goldman Sachs $350 million over 1MDB scandal

Goldman Sachs ignored multiple red flags over the multibillion-dollar fundraisings it arranged for state fund 1Malaysia Development Berhad, Hong Kong’s financial regulator said on...

Texas attorney general Ken Paxton fires top aide who accused him of bribery

Lacey Mase, one of the top aides who accused Texas Attorney General Ken Paxton of crimes including bribery and abuse of office, has been fired, she told The...

Subscribe For More

Get our daily notification on the latest financial crimes news around the World

Advertisement
Advertisement

Latest News

This Week

Goldman Sachs executives to cover part payments of $3 billion fines in 1MDB scandal

Nine current or former Goldman Sachs executives, including CEO David Solomon, will have to pay back hundreds of millions of dollars in compensation over...

US financial watchdog fines bitcoin mixer operator $60m for money laundering

The founder and operator of some of the first "mixing" services in crypto will have to cough up $60 million to United States regulators,...

Mozambique seeks prosecution of ex-Credit Suisse bankers implicated in debt scandal

Mozambique's Attorney General's Office said on Wednesday it will seek the extradition of three former Credit Suisse CSGN.S bankers implicated in a $2 billion debt scandal...

UAE suspends licences of 200 law firms over anti-money laundering compliance

Practicing licences of 200 law firms in the UAE have been suspended for a month for not following the prescribed procedures to combat money...
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