Across Canada, more than 800 MSBs — including more than 200 in the Lower Mainland — handle an estimated $39 billion a year in transactions.
The B.C. government’s expert money-laundering panel says the province should regulate money transfer and money exchange businesses.
The panel, in its 184-page report, said there are many legitimate businesses providing money transfer and foreign exchange services, but businesses providing money-laundering services to criminals also provide the same services. A Postmedia investigation published in March of this year raised questions about the scrutiny of MSBs in B.C. as increasing attention was being put on money laundering in the province and how it is being policed.
“I can certainly say that all the recommendations look critical, and we’re certainly supportive of the recommendations, but we want to take some time,” B.C. Finance Minister Carole James said when the money-laundering report was released. Former deputy RCMP commissioner Peter German made a similar recommendation to licence MSBs in a 2018 report that found millions of dollars were being laundered through casinos.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Federal commissioner decries 'erosion of language rights' across CanadaCanada's official languages commissioner received 21 per cent more language complaints in 2018-2019 than the previous year, and the uproar over Premier Doug Ford's cuts to French-language services in Ontario could be partly to blame, commissioner Raymond Theberge said Thursday.
Read more »
McDonald's to introduce fish & chips across Canada this weekBeginning Tuesday, fish & chips will be added to the McDonald’s menu across Canada for a limited time.
Read more »
Uber, Lyft drivers plan to strike in cities across the U.S.Drivers for ride-hailing giants Uber and Lyft are planning to turn off their apps to protest what they say are declining wages at a time when both companies are raking in billions of dollars from investors.
Read more »
Thousands of nails scattered across Sea to Sky Highway after transport truck loses cargoThe Sea to Sky Highway turned into a scene out of Wacky Races on Monday evening after a transport truck lost its load, spilling thousands of nails onto the road.The spill occurred just north of Hor…
Read more »
Barbara Kay: Our politicians may not care, but Christians are under siege across the worldAn Italian study calculates that in 2016 a Christian was killed for his or her faith every six minutes, and the trend is accelerating
Read more »