Route links
- News
- Local news
- Crime
“Money laundering is an affront to law-abiding citizens who earn their money honestly and pay their fair share of the cost of living in the community.” “Austin Cullen.”
Date Posted:
June 15, 2022 • 8 hours ago • 5 minutes of reading • 31 comments Commissioner and former Associate Judge Austin Cullen gives an overview of the Commission on Money Laundering Commission in BC in Vancouver, BC, on June 2022. Photo by NICK PROCAYLO / PNG
Content of the article
Former BC Supreme Court Judge Austin Cullen has made 101 recommendations to combat rampant money laundering in the province, from extending the mandate of the civil confiscation office to the creation of a new tsar against the money laundering “which will provide strategic oversight of the provincial response to money laundering.”
Announcement 2
This ad has not yet been uploaded, but your article continues below.
Content of the article
In his more than 1,800-page report, Cullen said that “the public was legitimately disturbed by the possibility of criminals laundering their cash and parking their illicit income in that province.”
He said it is impossible to know how much criminal cash is laundered in BC each year, but that some estimates put the amount “in the billions.”
“Money laundering is a major issue that deserves serious attention from the government, law enforcement and regulators. Every year a huge volume of illicit funds is laundered through the Colombian economy. British and this activity has a significant impact on the citizens of this province, “Cullen said.
“Money laundering has its origins in a crime that destroys communities, such as drug trafficking, human trafficking and fraud. These crimes are the victims of the most vulnerable members of society. Money laundering is an offense to law-abiding citizens who earn their money honestly and pay their fair share of the cost of living in the community. “
Announcement 3
This ad has not yet been uploaded, but your article continues below.
Content of the article
Commissioner Austin Cullen meets with reporters after publishing his report on his investigation into money laundering in British Columbia in Vancouver, BC, on Wednesday, June 15, 2022. Photo by Rich Lam / The Canadian Press
Cullen also recommended the creation of “a provincial unit of intelligence and money laundering research with a solid intelligence division.”
He said the unit should be operated by the Special Forces Execution Unit instead of the RCMP so that the province can maintain more control over it.
And he said that the intelligence gathered by the special unit would compensate for the ineffectiveness of FINTRAC, the federal agency responsible for analyzing money laundering threats and transmitting details to the police for investigation.
“Law enforcement agencies in British Columbia cannot rely on FINTRAC to produce useful and timely information on money laundering activity that they can put into action,” he said.
Announcement 4
This ad has not yet been uploaded, but your article continues below.
Content of the article
Attorney General David Eby welcomed the recommendations and thanked Cullen and his team for their work, which involved 133 days of hearings, witnessing 199 witnesses, and thousands of hours of research, investigation, and interviews. .
“Our government will evaluate these new commissioner recommendations and coordinate them with the work that the government is already doing, particularly in relation to housing and real estate,” Eby said.
“This report is also important to the federal government. It contains important and challenging findings and calls to action for our federal government. I hope and hope that the new federal minister responsible for this file will join us in addressing this important issue. shared challenge “.
Announcement 5
This ad has not yet been uploaded, but your article continues below.
Content of the article
BC Attorney General David Eby responds to Commissioner and former Associate Judge Austin Cullen as he gives a brief overview of the BC Commission on Money Laundering Commission in Vancouver, BC, on June 15, 2022. NICK PROCAYLO / PNG
Media reports of drug traffickers and organized criminals laundering money through BC casinos were one of the main reasons why Prime Minister John Horgan established the Cullen Commission in May 2019.
“The illicit money used by these casino customers played a central role in fueling an extraordinary growth in large and suspicious transactions in Lower Mainland casinos,” the Cullen report said.
“In 2014 alone, British Columbia casinos accepted nearly $ 1.2 billion in cash transactions of $ 10,000 or more, including 1,881 individual purchases of $ 100,000 or more, an average of more than five per day.”
The previous recommendations made by Peter German and already implemented “have significantly reduced the prevalence of illicit cash in BC casinos,” Cullen said, adding that “there needs to be continuous monitoring and further improvement.” .
Announcement 6
This ad has not yet been uploaded, but your article continues below.
Content of the article
Cullen recommended lowering the threshold for requiring casino customer proof of its fund source to $ 3,000, as well as maintaining current limits on the amount that can be paid to customers by transportation checks.
BC Attorney General David Eby responds to Commissioner and former Associate Judge Austin Cullen as he gives a brief overview of the BC Commission on Money Laundering Commission in Vancouver, BC, on June 15, 2022. NICK PROCAYLO / PNG
He also recommended new regulations and anti-money laundering education for lawyers, accountants, mortgage brokers and others involved in real estate transactions, including all employees of the developers.
And he said the BC civil confiscation office should be funded directly by the government, rather than its current self-financing model.
“The Office of Civilian Decomposition should be encouraged to prosecute cases that have the greatest impact on organized crime groups, regardless of whether those cases are ‘commercially viable,'” Cullen said.
Announcement 7
This ad has not yet been uploaded, but your article continues below.
Content of the article
“Unfortunately, the number and value of illegally confiscated assets obtained through the British Columbia asset confiscation system is surprisingly low.”
Cullen answered several media questions about his conclusion that there was no corruption among former Liberal government ministers responsible for overseeing casinos.
“Although these elected officials have not taken sufficient steps to resolve the extensive money laundering that is taking place in the industry for which they were responsible, there is no basis to conclude that any corruption related to the gaming industry or the mandate committee more generally, “Cullen said. “While some may have done more, there is no evidence that any of the failures were motivated by corruption.”
Announcement 8
This ad has not yet been uploaded, but your article continues below.
Content of the article
Eby later said politicians should have a higher bar than just not be corrupt.
“As a politician, I would not be satisfied with the band granted by that commissioner who says ‘not corrupt’. I stand by a higher standard, “he said.” They should explain why they did not take the necessary measures to combat money laundering. “
Mike de Jong. Photo by Jason Payne / PNG
But Liberal MP Mike de Jong, one of the former ministers, said on Wednesday that he was pleased to see that Cullen acknowledged that his government had taken action.
“It simply came to our notice then. And it had an impact, “he said.
“I’ve read, especially when it comes to gaming and casino operations, where he thinks it could have been done sooner or later.”
Announcement 9
This ad has not yet been uploaded, but your article continues below.
Content of the article
He said he said Cullen was “unequivocal and clear that throughout his evidence-gathering process, and in his report, there is no evidence because at any time there were corrupt practices, collusion, no deliberate attempt. to facilitate the laundering of money in this province by anyone within the previous government ”.
Cullen also concluded that while money laundering has been done through the purchase of real estate, “it is not the cause of the unaffordability of housing” in BC.
“While the impact of money laundering and anti-money laundering measures on real estate prices is something that will benefit from further study, I cannot conclude that money laundering is a major cause of the insecurity of housing, ”he said.
kbolan@postmedia.com
Twitter.com/kbolan
More news, less ads: Our in-depth journalism is made possible by the support of our subscribers. For just $ 3.50 a week, you can get unlimited, unlimited access to The Vancouver Sun, The Province, National Post, and 13 more Canadian news sites. Support us by subscribing today: The Vancouver Sun | The Province.
Share this article on your social network
Announcement 1
This ad has not yet been uploaded, but your article continues below.
Sign up for daily news from the headlines of Vancouver Sun, a division of Postmedia Network Inc.
By clicking the sign up button, you agree to receive the previous Postmedia Network Inc. newsletter. You can unsubscribe at any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc. | 365 …