Reports of money laundering in B.C. real estate ‘troubling’: attorney general

News report alleges people connected to fentanyl trade are using B.C. real estate to launder money

B.C.’s attorney general says he’s deeply troubled by reports of money laundering and criminal activity in the real estate market.

David Eby has issued a statement saying the government takes reports of money laundering through real estate very seriously.

The comments come after the Globe and Mail published a story alleging that people connected to the fentanyl trade are using B.C. real estate to clean dirty drug money.

Eby says he has already tasked former RCMP deputy commissioner Peter German with reviewing money laundering policies and practices at B.C. casinos.

Last month, German’s recommendations prompted the government to announce new rules for high rollers at casinos, including a requirement that anyone spending $10,000 or more within a 24-hour period prove the source of the funds.

READ MORE: Cash rules tightened for B.C. casinos

Eby says German will also look at whether money laundering has connections with any other sectors, including real estate or tax policy.

“Our government will work to determine the scope of this issue and what must be done to appropriately address it,” he said Friday in a statement.

“We will ensure our investigation into money laundering in B.C. casinos is informed by these disturbing revelations.”

The Canadian Press

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