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

“Our community has had its heart broken”: Penticton celebrates life of David Kampe

Community and families members who knew Kampe give tearful addresses

Summerland celebrates new skate park

A couple hundred people crowded the park for the official opening June 22

Okanagan-Shuswap weather: Unsettled skies dominate the week’s forecast

A chance of thunderstorms is in the forecast for much of the Okanagan-Shuswap.

COLUMN: In praise of Millennials

Plenty of examples of young people who are neither lazy nor entitled

Okanagan-Shuswap weather: mix of sun and clouds

Check out today’s weather across the Okanagan according to Environment Canada

Protesters rally in Victoria over newly approved Trans Mountain pipeline

The Still No Consent! No Trans Mountain! 20 kilometre march will end at Island View Beach

Two mudslides close Seymour Arm road in North Shuswap, no one injured

Slides hit Seymour Arm Main Forest Service Road halfway between St. Ives and Seymour Arm

Wildfire burning in coastal forest

A fire beside the Sea to Sky Highway is burning up a steep slope

Lower lake levels could create bumper crop of invasive milfoil

The CSRD board received an update on efforts to suppress the invasive aquatic plant

PHOTOS: Event marks one year since soccer team rescued from Thai cave

Nine players and coach took part in marathon and bike event to help improve conditions at cave

Vernon and Sicamous cannabis stores get provincial nod

Spiritleaf in Vernon will be the Okanagan’s first cannabis store.

Rock climber dies after fall at Stawamus Chief in Squamish

The man had fallen about 30 metres while climbing in the Grand Wall area

Five B.C. students taken to hospital after playing with vaping device

School district said students were taken to hospital ‘out of an abundance of caution’

Most Read