BUSINESS
02/18/2018 09:44 EST | Updated 02/21/2018 10:58 EST

Money Laundering In B.C. Real Estate: Attorney General Vows To Probe 'Disturbing Allegations'

David Eby says the province will "determine the scope of this issue."

An aerial view of downtown Vancouver and the West End. British Columbia's attorney general says he's deeply troubled by reports of money laundering and criminal activity in the real estate market.
Bas Vermolen via Getty Images
An aerial view of downtown Vancouver and the West End. British Columbia's attorney general says he's deeply troubled by reports of money laundering and criminal activity in the real estate market.

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 B.C. real estate to clean dirty drug money.

Earlier on HuffPost Canada:


Eby says he has already tasked former RCMP deputy commissioner Peter German with reviewing money laundering policies and practices at B.C. 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.

Watch: CRA recovers millions from real estate crackdown

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

"Our government will work to determine the scope of this issue and what must be done to appropriately address it," he said Friday in a statement.

"We will ensure our investigation into money laundering in B.C. casinos is informed by these disturbing revelations."

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