The Ministry of Advanced Education, Skills and Training has launched an information campaign to prevent sexualized violence and misconduct around post-secondary campuses. (iStock photo)

B.C. post-secondary schools told to halt cash tuition payments to combat money laundering

Post-secondary schools will no longer be allowed to accept large cash payments from students

As money laundering remains top of mind for politicians and British Columbians alike, the province announced measures Tuesday in order to protect post-secondary schools from becoming targets for dirty money.

Beginning immediately, public and private post-secondary institutions will no longer be allowed to accept large cash payments from students, Advanced Education Minister Melanie Mark told reporters at the B.C. Legislature in Victoria.

Institutions without a policy on accepting cash for tuition are also being asked to develop one.

READ MORE: B.C. holding public inquiry to track rise of money laundering

This marks the latest move by the NDP government to quash money laundering in the province and follows a May 9th report by former deputy RCMP commissioner Peter German, which estimated that more than $7 billion in dirty money was laundered through B.C. in 2018.

READ MORE: Crackdown on money laundering does not include federal public inquiry

Although that report focused on how real estate, luxury cars and horse racing are implicated by criminals cleaning dirty money, German also identified alleged reports of money laundering in other vulnerable sectors, including the province’s post-secondary system.

“Peter German has advised that people are paying thousands of dollars in suspicious cash for multiple semesters in advance and then seeking refunds by cheque,” Attorney General David Eby said in a news release.

“Our post-secondary institutions must not be used to launder money, and we are asking them to review their policies to put a stop to it.”

READ MORE: RCMP has ‘no’ money laundering investigators in B.C.

READ MORE: Hot cars hide dirty money, B.C. investigation shows

B.C. is home to 25 public post-secondary schools where 437,500 students are registered, as well as 342 private career training institutions and private degree-granting institutions where 71,000 students attend.


@ashwadhwani
ashley.wadhwani@bpdigital.ca

Like us on Facebook and follow us on Twitter.

Just Posted

After 30 years, Agassiz’s Miss Marge set to retire from Variety Play

From 1989 to today, Miss Marge has taken generations of kids through the district play program

Summer service by bus from Chilliwack to Cultus Lake starting soon

Seasonal change will see bus service from Vedder Road to Cultus elementary until Labour Day

Chilliwack trustees divided on Trans Mountain pipeline route near two schools

School district will pen letter to NEB to ask for re-routing away from schools to be considered

Agassiz RCMP finally able to get outdoor picnic table

Funds from Harrison and Kent will allow the detachment to purchase the outdoor seating area

Harrison to replace final incandescent street lights with LEDs

The $186,000 project is the second-phase of a replacement plan for the village

VIDEO: Reading splashes into Agassiz’s Ferny Coombe Pool

The Agassiz Library held its annual Reading in the Pool event Friday, June 14

Men caught with illegal gun near Burnaby elementary school

They were sitting in a parked car near Cameron Elementary

Home care for B.C.’s elderly is too expensive and falls short: watchdog

Report says seniors must pay $8,800 a year for daily visits under provincial home support program

B.C. ‘struggling’ to meet needs of vulnerable youth in contracted care: auditor

Auditor general says youth in contracted residential services may not be getting support they need

Pair of B.C. cities crack Ashley Madison’s ‘Infidelity Hotlist’

Data from the website reveals Abbotsford and Kelowna hottest spots for cheaters

Life’s work of talented B.C. sculptor leads to leukemia

Former Salmon Arm resident warns of dangers of chemical contact

Billboard posted along B.C.’s Highway of Tears to remember missing and murdered Indigenous women

Billboards featuring Indigenous artwork to be placed in Surrey, Kamloops and near Prince George

Canada’s first dementia village close to opening

Langley project to provide home-like surroundings for between $83,400 and $93,600 a year

Unexpected snow blankets the Okanagan Connector

As of 6:50 a.m. DriveBC cameras displayed surprise snowfall on highway

Most Read