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

Local ham radio club hosting Field Day at Filberg in Comox

Every June, more than 40,000 ham radio operators throughout North America set… Continue reading

Bear struck by vehicle limped into woods

Someone with good intentions was in for a surprise Tuesday when they… Continue reading

Major renovations planned for Washington Inn Apartments in Courtenay

Province doles out nearly $5 million affordable rental accommodation project

Curious Comox Valley – What would you like answered?

It appears that Comox Valley residents have a lot on their mind… Continue reading

Comox Valley students taught to honor Indigenous language

One man’s legacy and one Indigenous language will forever be preserved in… Continue reading

VIDEO: Rare white killer whale captured by drone near Campbell River

The transient orca has been named Tl’uk, a Coast Salish word that means ‘moon.’

Students disciplined after anti-LGBTQ signs posted in Kamloops high school

Vessy Mochikas, SD73’s principal for inclusive education, called incident a learning opportunity

Air Canada expects Boeing 737 Max to resume flying by September or October

Air Canada isn’t worried about safety of the planes, says vice-president

‘The Fonz’ gives thumbs up in letter to dyslexic students at B.C. school

Students in Maple Ridge reached out to Henry Winkler after reading one his Zipster books.

PHOTOS: MP Mark Warawa loses brief battle with cancer

The Conservative Member of Parliament and long-time community advocate died in hospice this morning

Chinook fishery not ‘closed’ in area is message from guides

Conservative MP holds town halls on Vancouver Island to hear stakeholders’ concerns

B.C. teen killed by falling tree near Victoria

Second youth also injured in freak incident during field trip at Camp Barnard near Sooke

Commercial fishers in B.C. now required to wear life-jackets on deck: WorkSafeBC

WorkSafeBC reports 24 work-related deaths in the commercial fishing industry between 2007 and 2018

Rossland boy finds human kindness sweet as honey after beehive destroyed

Family overwhelmed by kind offerings of strangers all across B.C.

Most Read