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

RCMP wish North Okanagan grads safe season

Friendly reminders to grads, friends and families to enjoy a safe graduation

Rail trail facility plan open to Coldstream tonight

Development options include washroom and commercial building

UPDATE: Logging truck spill cleared east of Lumby

Accident happened between McInnes Road and Rawlings Lake Road

Community comes together for Easter Seals Camp Winfield

On June 15, the community of Lake Country came out to help raise funds for Easter Seals Camp Winfield

PHOTOS: Vernon Community Music School hosts “Hootenanny Hoedown”

The music school hosted their annual year-end country fair on June 7

PHOTOS: Elusive ‘ghost whale’ surfaces near Campbell River

Ecotourism operator captures images of the rare white orca

RCMP Emergency Response team swarms Kelowna home

Water is flooding Highway 33 in Kelowna Monday afternoon

Victoria mom describes finding son ‘gone’ on first day of coroners inquest into overdose death

Resulting recommendations could change handling of youth records amidst the overdose crisis

Dash-cam video in trial of accused cop killer shows man with a gun

Footage is shown at trial of Oscar Arfmann, charged with killing Const. John Davidson of Abbotsford

Suicide confirmed in case of B.C. father who’d been missing for months

2018 disappearance sparked massive search for Ben Kilmer

Eight U.S. senators write to John Horgan over B.C. mining pollution

The dispute stems from Teck Resources’ coal mines in B.C.’s Elk Valley

Restrictive policies affecting labour mobility for care aides in B.C.

‘I had to take two competency exams and pay over $1,400,’ said an Okanagan care aide

Threats charge against Surrey’s Jaspal Atwal stayed

Atwal, 64, was at centre of controversy in 2018 over his attendance at prime minister’s reception in India

Emerging artists given chance at Shuswap’s Roots Blues Festival

Chosen participants can perform two 40-minute sets on the Wednesday or Thursday night, and more.

Most Read