Weaver: German report demonstrates need for systemic change, investigation into links with real estate sector

June 27, 2018

VICTORIA, B.C. – Andrew Weaver, leader of the B.C. Green Party, welcomed Dr. Peter German’s independent review of money laundering in Lower Mainland casinos. Weaver says that German’s finding that large-scale transnational money laundering has been occurring in our casinos, and that B.C.’s laws and regulations have not kept pace with changing realities, demonstrates the need for wholesale policy change.

“Dr. German’s report demonstrates systemic failure within the previous government  to adapt our laws and regulations to changing realities,” said Weaver.

“We have seen significant growth and change, both in B.C. and globally, since many of our laws and regulations were first developed. Outdated policies have left our province vulnerable to exploitation as transnational criminal entities have become increasingly more sophisticated.

“It is encouraging to hear that recent government actions have led to a significant reduction in suspicious activity in B.C. casinos, and I am pleased that the Attorney General has accepted the recommendations. What is most important now is that government provide clear timelines for implementing the recommendations and is transparent with regards to progress. In particular, the recommendation that the Province undertake research into allegations of organized crime penetration of the real estate industry should be at the top of government’s agenda. British Columbians are looking for answers as to why our housing market spiralled out of control so quickly and if we are to develop effective solutions we must undertake a thorough investigation of this issue.

“Government cannot be asleep at the switch amidst such significant threats. Going forward, government must be significantly more proactive in modernizing our laws and regulations so that we are not faced with such a crisis again.”


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