VIDEO: Feds announce $10M for RCMP to fight money laundering

Finance Minister Bill Morneau and B.C. officials discussed prosecuting money launderers at meeting

The federal government has announced $10 million to help the RCMP prosecute money laundering after a special meeting in Vancouver of Canada’s finance and justice ministers to discuss the pervasive problem.

Finance Minister Bill Morneau says the ministers discussed the importance of prosecuting money launderers and the new funds will help co-ordinate information and hold criminals accountable.

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

Morneau says the ministers discussed making corporate ownership of real estate more transparent through beneficial ownership registries, though there was no final commitment from provinces on the topic.

He says Ottawa cannot simply create a framework for such registries, because there are issues around privacy and regulation, but he heard around the table that everyone was willing to take the next steps.

The federal government promised $160 million to help fight money laundering in the federal budget and Organized Crime Minister Bill Blair says Canada is building a new capacity to respond, investigate and prosecute the problem.

Ontario has requested federal funding on par with British Columbia to fight money laundering, but Blair says they didn’t discuss specific allocations of resources at the meeting.

The Canadian Press

Like us on Facebook and follow us on Twitter.

Just Posted

Climate strike draws huge crowd in Duncan

Millions strike for climate worldwide

Never Ending Summer Affair at Shawnigan looks on the bright side of life

A drop or two of rain won’t stop Shawnigan Lake folks from having a good time outdoors

Police ask public for assistance with Duncan house fire investigation

Fire gutted house on SAllenby Road on Sept. 16

PHOTOS: Young protesters in B.C. and beyond demand climate change action

Many demonstaers were kids and teens who skipped school to take part

Former B.C. lifeguard gets house arrest for possession of child porn

Cees Vanderniet of Grand Forks will serve six months of house arrest, then two years’ probation

Crown alleges resentment of ex-wife drove Oak Bay father to kill his daughters

Patrick Weir alleged in his closing arguments that Andrew Berry is responsible for the deaths of his daughters

‘I’d do it again,’ says B.C. man who swam naked, drunk in Toronto shark tank

David Weaver, of Nelson, was drunk when he went to Ripley’s Aquarium in Toronto on Oct. 12 2018

How to react to Trudeau’s racist photos? With humility, B.C. prof says

‘We are now treating racism as a crime that you cannot recover from’

Victoria man spots online photo of his totem pole 11 years after it was stolen

Mark Trueman restored the pole himself before it was stolen off of his property in Duncan

VIDEO: Fire destroys Williams Lake strip club targeted by past arson attempts

Diamonds and Dust Entertainment Lounge destroyed by fire, as well as New World Tea and Coffee House

Trudeau seeks meeting with Singh to apologize for blackface, brownface photos

‘I will be apologizing to him personally as a racialized Canadian,’ Trudeau said Friday

Charges stayed against Alberta RCMP officer in alleged off-duty Whistler assault

Const. Vernon Hagen instead completed an alternative measures program

Most Read