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

Former Parksville Generals player lands head coaching gig in Norway

New position is a dream come true for Henry Acres

Parksville resort fire caused by flammable gas used to extract oil from cannabis

Investigators detail reasons for explosion and blaze that destroyed building

Suspect arrested following gunpoint robbery in Qualicum Beach

Stop and Shop Grocery was robbed June 5; man now in custody

UPDATED: Wildfire burning near Taylor Flats in the Alberni Valley

Fire is located close to Highway 4 near Sproat Lake

Concerned farmers speak up about legislative changes to ALR land use

Bills 15 and 52 the focus of ‘emergency’ meeting to be held in Nanoose Bay

VIDEO: Huge crowds gather in downtown Toronto for Raptors parade

Mayor John Tory declares it ‘We The North Day’ after team’s historic NBA title win

Province comes through with funding for Charleigh Fales

Lake Cowichan toddler only one in B.C. diagnosed with CLN2 Batten disease

People throwing food at a bear in Fernie alarms conservation groups

“Approaching and feeding bears contributes to habituation,” says conservation group

Feds announce $50M strategy to fight dementia

Emphasis is on prevention and and supporting caregivers

Federal Liberals’ plan to help first-time homebuyers to kick in weeks before election

Ottawa to pick up 5% of a mortgage on existing homes for households that earn under $120,000 a year

B.C. VIEWS: When farmland protection doesn’t protect farmers

Secondary residences aren’t mansions, families tell Lana Popham

Port Alberni man dies in ATV accident

A Port Alberni man has died following an all-terrain vehicle accident near… Continue reading

B.C. woman fighting to block coroner’s report detailing husband’s death

Fears revealing exactly how Ben Kilmer took his life will have traumatic effect on her two children

Monkey spotted on late-night jaunt in Campbell River

Conservation officers also apparently looking for cougar in the area

Most Read