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Home / 2018 / Province launches probe in to real estate money laundering
Province launches probe in to real estate money laundering
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Province launches probe in to real estate money laundering

Concern over real estate based money laundering in BC has led the provincial government to launch a two-stage probe in to the industry.

The first stage will identify the risks that leave the industry open to money laundering, and the second stage will investigate specific cases to attempt to uncover money launderering operations.

An independent analysis ordered by the Attorney General’s office found the province’s current real estate regulatory system to be dysfunctional, and open to market manipulation.

An independent panel will also look in to gaps in existing laws and regulations to form recommendations on how to eliminate the problem.

A final report is expected in March of 2019.

About Jeff Blagden

News Reporter/ Anchor. Originally from Hamilton, Ontario, Jeff has a background in sports journalism, and radio hosting. He comes most recently from his post as a morning show host in Chetwynd.

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