Friday, October 23, 2020

Province releasing 2 reports today into money laundering in real estate


The province is set to release two reports into money laundering in B.C.’s real estate industry shortly after noon on Thursday.

One report is the remainder of former Mountie Peter German’s report, while the second was written by criminal law expert Maureen Maloney.

Attorney General David Eby said Maloney’s report was written with expertise from international experts and will make recommendations.

“It’s a big picture report about policy in British Columbia and the potential impact of money laundering on B.C.’s real estate market,” he said on Wednesday.

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Eby will be discussing the report along with B.C.’s minister of finance, Carole James.

The latest reports come amid the release of a flurry of reports into money laundering in B.C., including an explosive report into the luxury car sector earlier this week.

“The trend around money laundering in British Columbia has been that when we look, we find disturbing information and I don’t think these reports are any exception,” said Eby.

“The reason we commissioned these reports was to get this information out to the public and I’m glad we’ve been able to do it as quickly as we have been.”

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