B.C.: Tip portal launched for reporting dirty money in horse racing, real estate, luxury cars
In June 2018, the attorney general released the Peter German report on anti-money laundering in Lower Mainland casinos. Following this work, in September 2018, the Province launched two subsequent probes into money laundering in the real estate sector.
One probe, led by German, is investigating instances of illicit activity on behalf of the Ministry of Attorney General. The other probe, led by Maureen Maloney and the Ministry of Finance, is looking for legislative, regulatory and other actions that can be taken to prevent money laundering.
German now is seeking information and submissions from British Columbians related to the areas identified in his official terms of reference:
- connections between organized crime and money laundering in the horse racing and luxury car industries;
- money laundering in the real estate sector connected to criminal enterprises in B.C. or elsewhere, including analysis of the extent of the problem;
- the use of lawyers’ trust accounts to mask sources of funds in real estate transactions;
- money laundering in the construction industry, including abuse of builders’ liens; and
- any other conduct in which there may be an identifiable link between organized crime and real estate transactions in B.C.
If German identifies instances of money laundering in any of these areas, he is to inquire into the nature, extent and history of these issues and deliver findings to government.
Individuals can anonymously report suspicions of money laundering through a tip portal until Jan. 31, 2019. ■