Five agencies are banding together to help fight money laundering in British Columbia’s real estate industry.
B.C. Attorney General David Eby and Finance Minister Carole James released a joint statement saying the collaboration will go a long way towards getting dirty money out of the real estate market and protecting consumers.
The other participating organizations include the Appraisal Institute of Canada, B.C. Notaries Association, Canada Mortgage Brokers Association and the Real Estate Board of Greater Vancouver. An international anti-money laundering agency said last year that organized criminals were laundering about $1 billion annually in the province and the B.C. government is now reviewing two reports on the crime.
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