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

Ambulance service practises virtual reality CPR in Victoria

Training takes place on B.C. Parliament lawns

Queue up a playlist of Victoria musicians

Local guitarist, Cody Rueger, creates playlist to highlight Victoria’s music scene

Convicted drug trafficker asks Victoria courtroom for chance to ‘turn this around’

Horst Schirmer sentenced for convictions on five counts of possession related to trafficking

Pipeline protestors plan march as Trudeau gives Trans Mountain the go-ahead,

20 kilometre march to protest the pipeline starts in Victoria, ends on Saanich Peninsula

VIDEO: Trans Mountain expansion project gets green light, again

Prime Minister Justin Trudeau announced the decision in Ottawa on Tuesday afternoon

Greater Victoria wanted list for the week of June 18

Greater Victoria Crime Stoppers is seeking the public’s help in locating the… Continue reading

POLL: Do you support the government’s decision to approve the Trans Mountain pipeline expansion?

The federal government announced Tuesday its approval for the Trans Mountain pipeline… Continue reading

Man to be sentenced for sexual abuse of young girl in Nanaimo

Stephen Mark Castleden also sentenced for child pornography-related charges

MPs hear retired B.C. nurse’s petition to change compensation for fatal medical errors

Teri McGrath wants provinces to implement no-fault system for medical errors

Horgan says he’ll still defend B.C. coast after second Trans Mountain approval

Meanwhile, one B.C. First Nation has announced plans for a legal challenge

VIDEO: Firefighters stop blaze from spreading after BMW crashes at Saratoga Speedway

Victoria-based businessmen were ‘corner training’ on Father’s Day when incident took place

Demonstrators on either side of Trans Mountain debate clash in Vancouver

Crowd heard from member of Indigenous-led coalition that hopes to buy 51% of expansion project

Grieving B.C. mom hopes Facebook message leads to new investigation into son’s Surrey homicide

Criminal Justice Branch didn’t lay charges, concluding no substantial likelihood of murder or manslaughter conviction

Most Read