Commissioner Austin Cullen listens to introductions before opening statements at the Cullen Commission of Inquiry into Money Laundering in British Columbia, in Vancouver, on February 24, 2020. Money laundering in British Columbia will be under scrutiny again this week when a public inquiry resumes today. Over the next 3 1/2 weeks, expert witnesses ranging from academics to police officers are expected to shed light on how dirty money is quantified and the regulatory models that are being used to fight it around the globe. The B.C. government called the inquiry amid growing concern that illegal cash was helping fuel its real estate, luxury car and gambling sectors. THE CANADIAN PRESS/Darryl Dyck

Commissioner Austin Cullen listens to introductions before opening statements at the Cullen Commission of Inquiry into Money Laundering in British Columbia, in Vancouver, on February 24, 2020. Money laundering in British Columbia will be under scrutiny again this week when a public inquiry resumes today. Over the next 3 1/2 weeks, expert witnesses ranging from academics to police officers are expected to shed light on how dirty money is quantified and the regulatory models that are being used to fight it around the globe. The B.C. government called the inquiry amid growing concern that illegal cash was helping fuel its real estate, luxury car and gambling sectors. THE CANADIAN PRESS/Darryl Dyck

Cullen commission into money laundering in British Columbia resumes today

Inquiry was called amid growing concern that illegal cash was helping fuel real estate, luxury car and gambling

Money laundering in British Columbia will be under scrutiny again this week when a public inquiry resumes today.

Over the next 3 1/2 weeks, expert witnesses ranging from academics to police officers are expected to shed light on how dirty money is quantified and the regulatory models that are being used to fight it around the globe.

The B.C. government called the inquiry amid growing concern that illegal cash was helping fuel its real estate, luxury car and gambling sectors.

Opening arguments were held in February and the main hearings scheduled to begin in September will delve into specific industries.

Commission lawyer Brock Martland says the goal of this part of the inquiry is to create an understanding of what money laundering is and the strategies other countries have used to get a grip on it.

The hearings are being streamed online.

Expert witnesses will include Simon Lord of the United Kingdom’s National Crime Agency, RCMP Chief Supt. Robert Gilchrist of the Criminal Intelligence Service of Canada and Oliver Bullough, author of “Moneyland: The Inside Story of the Crooks and Kleptocrats Who Rule the World.”

“The sort of game plan is to have the view from 30,000 feet,” Martland said.

The inquiry is being led by commissioner Austin Cullen. Attorney General David Eby has said he hopes it will answer lingering questions about how the criminal activity has flourished in the province.

B.C. also commissioned three reports that revealed B.C.’s gambling, real estate and luxury car industries were hotbeds for dirty money, but Eby said an inquiry will be able to dig deeper because it can compel witnesses to speak.

In February, the B.C. Real Estate Association told the inquiry that it supported the creation of a provincial land registry that identifies those buying property. It has also struck a working group to make anti-money laundering recommendations.

The B.C. Lottery Corp. said it has consistently reported suspicious transactions to Fintrac and pointed out unusual conduct to the gaming policy enforcement branch.

The corporation has also brought in measures to control or prevent the flow of dirty money since 2012, including creating an anti-money laundering unit made up of certified investigators and intelligence analysts.

And the Great Canadian Gaming Corp., which owns several B.C. gambling sites, also defended the company’s efforts to limit money laundering, telling the inquiry that criticism of the industry is unfounded.

A coalition of tax fairness groups told the inquiry at the time that hiding ill-gotten cash behind shell companies is so widespread in Canada it’s known globally as “snow washing.”

READ MORE: Acceptance of cash deposits rare in real estate, B.C. money laundering inquiry hears

READ MORE: Money laundering has warped economy and fuelled opioid crisis, B.C. tells inquiry

==

The Canadian Press


Like us on Facebook and follow us on Twitter.

Want to support local journalism during the pandemic? Make a donation here.

money laundering

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

A mallard duck swims through Salish Pond in Chilliwack on Saturday, Jan. 23, 2021. (Jenna Hauck/ Chilliwack Progress)
WEATHER: Snow, rain in forecast for Fraser Valley

Fraser Valley has been treated to more than a week of mostly sunny weather, but it’s about to end

sd
VIDEO: Mission drag racer scores 1st career win, sets world record, makes history in 2020

Justin Bond, founder and owner of JBS Equipment, hits milestones in break-out year

A video posted to social media by Chilliwack resident Rob Iezzi shows a teenager getting kicked in the face after being approached by three suspects on Friday, Jan. 22, 2021. (YouTube/Rob i)
VIDEO: Security cameras capture ‘just one more assault’ near Chilliwack secondary

Third high-school related assault Rob Iezzi’s cameras have captured since beginning of 2021

Grace Kennedy Editorial Agassiz Harrison Observer image
EDITORIAL: With COVID-19, knowledge is power

Editor Grace Kennedy explains why the Observer is reporting on local case numbers, despite the flaws

U.S. Senator Bernie Sanders sits in on a COVID-19 briefing with Dr. Bonnie Henry, provincial health officer, and Adrian Dix, B.C. minister of health. (Birinder Narang/Twitter)
PHOTOS: Bernie Sanders visits B.C. landmarks through the magic of photo editing

Residents jump on viral trend of photoshopping U.S. senator into images

A 75-year-old aircraft has been languishing in a parking lot on the campus of the University of the Fraser Valley, but will soon be moved to the B.C. Aviation Museum. (Paul Henderson/ Chilliwack Progress)
Vintage military aircraft moving from Chilliwack to new home at B.C. Aviation Museum

The challenging move to Vancouver Island will be documented by Discovery Channel film crews

Giants defenceman Bowen Byram has recorded his first NHL career point (Rob Wilton/special to Langley Advance Times)
VIDEO: Vancouver Giants Bowen Byram records first NHL career point with Colorado Avalanche

Player with Langley-based WHL franchise assisted on goal against the Ducks

Surrey Fire Service responded to a fire in the industrial area of 192nd street and 54th Avenue early Saturday morning (Jan. 23, 2021). (Photo: Shane MacKichan)
Surrey crews respond to fire in industrial area

Fire happened early Saturday morning

FILE - In this Feb. 14, 2017, file photo, Oklahoma State Rep. Justin Humphrey prepares to speak at the State Capitol in Oklahoma City. A mythical, ape-like creature that has captured the imagination of adventurers for decades has now become the target of Rep. Justin Humphrey. Humphrey, a Republican House member has introduced a bill that would create a Bigfoot hunting season, He says issuing a state hunting license and tag could help boost tourism. (Steve Gooch/The Oklahoman via AP, File)
Oklahoma lawmaker proposes ‘Bigfoot’ hunting season

A Republican House member has introduced a bill that would create a Bigfoot hunting season

Join Black Press Media and Do Some Good
Join Black Press Media and Do Some Good

Pay it Forward program supports local businesses in their community giving

Cannabis bought in British Columbia (Ashley Wadhwani/Black Press Media)
Is it time to start thinking about greener ways to package cannabis?

Packaging suppliers are still figuring eco-friendly and affordable packaging options that fit the mandates of Cannabis Regulations

Economic Development and Official Languages Minister Melanie Joly responds to a question in the House of Commons Monday November 23, 2020 in Ottawa. THE CANADIAN PRESS/Adrian Wyld
Federal minister touts need for new B.C. economic development agency

Last December’s federal economic update promised a stimulus package of about $100 billion this year

FILE - In this Nov. 20, 2017, file photo, Larry King attends the 45th International Emmy Awards at the New York Hilton, in New York. Former CNN talk show host King has been hospitalized with COVID-19 for more than a week, the news channel reported Saturday, Jan. 2, 2021. CNN reported the 87-year-old King contracted the coronavirus and was undergoing treatment at Cedars-Sinai Medical Center in Los Angeles. (Photo by Andy Kropa/Invision/AP, File)
Larry King, broadcasting giant for half-century, dies at 87

King conducted an estimated 50,000 on-air interviews

Most Read