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Reports of money laundering in BC real estate 'troubling': attorney general

(iStock Photo)

VICTORIA – British Columbia’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 BC 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 BC 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.

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