News

B.C. ministers, feds to draft money-laundering strategy at special meeting

B.C. ministers, feds to draft money-laundering strategy at special meeting
Canada
British Columbia’s efforts to fight money laundering are expected to be front and centre today at a special meeting of federal cabinet ministers and their provincial counterparts to discuss national strategies for stemming the problem.

The B.C. government says the meeting in Vancouver will highlight new legislative changes already underway in B.C. that could be replicated across the country, including laws to end hidden ownership.

Federal Finance Minister Bill Morneau and Organized Crime Reduction Minister Bill Blair have scheduled a news conference after the meeting to provide details on Ottawa’s plans to combat both money laundering and terrorist financing.

The province launched a public inquiry into money laundering in May after three independent reviews revealed that billions of dollars are laundered each year through the B.C.’s casinos, real estate market and other sectors.

B.C. Finance Minister Carole James says in a statement that money laundering has distorted the province’s economy, fuelled the overdose crisis and driven up housing prices.
Read more on globalnews.ca
News Topics :
Similar Articles :
Top Stories
B.C. Attorney General David Eby, Premier John Horgan and Finance Minister Carole James announce a public inquiry into money laundering in the province on Wednesday, May 15, 2019. Published Thursday,...
Business
VANCOUVER British Columbia’s efforts to fight money laundering are expected to be front and centre today at a special meeting of federal cabinet ministers and their provincial counterparts to...
Canada
VANCOUVER The federal government has announced $10 million to help the RCMP prosecute money laundering after a special meeting of Canada s finance and justice ministers to discuss the...
Business
VICTORIA Finance Minister Bill Morneau says fighting money laundering in Canada and abroad is on the federal government’s agenda. He says the federal government is working together with British...
Politics
VICTORIA Finance Minister Bill Morneau says fighting money laundering in Canada and abroad is on the federal government s agenda. He says the federal government is working together with...