On the Perrin report recommendations & reviews into money laundering & real estate
The BC Government today released Dan Perrin’s Real Estate Regulatory Structure Review, which was commissioned in April of this year to:
Concomitant with the release of the report, government announced that it was initiating two reviews into money laundering in British Columbia.
The first involves the creation of an Expert Panel on Money Laundering in Real Estate chaired by Maureen Maloney, a Professor in the School of Public Policy at Simon Fraser University.
The second entails commissioning Peter German, author Dirty Money: An Independent Review of Money Laundering in Lower Mainland Casinos conducted for the Attorney General of British Columbia, to conduct a another review but now focusing on the link between potential money laundering in casinos and the real estate sector, as well as potential money laundering activities in the horse racing and luxury car sectors.
My office issued a press release welcoming the recommendations of the Perrin report and the establishment of the two reviews into money laundering. In addition, I urged government to accept the recommendations of the Perrin report.
Below is a copy of our press release.
Media Release
Weaver welcomes Perrin report recommendations and reviews into money laundering and real estate
For immediate release
September 27, 2018
VICTORIA, B.C. – Andrew Weaver, leader of the B.C. Green Party, urged government to implement the recommendations of Dan Perrin’s real estate regulatory structure review.
“I urge government to implement the recommendations of the Perrin report,” said Weaver. “The current regulatory structure has created dysfunction that is confusing for industry and falls short in consumer protection.”
Weaver also welcomed the government’s announcement of two reviews into the role of money laundering in the real estate sector. Both the Perrin report and Peter German’s report Dirty Money recommend further investigation into the connection between money laundering and real estate.
“Along with undertaking these reviews, we must act swiftly to root out any criminal activities in our real estate market. When it comes to something as vital as British Columbians homes, ensuring that the market is not susceptible to distortion by fraud and money laundering is absolutely critical.
“Our Caucus is committed to supporting policy changes that will remedy any gaps, loopholes or inadequacies that are allowing our real estate market to be distorted through speculation and illegal activity.”
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Media contact
Jillian Oliver, Press Secretary
+1 778-650-0597 | jillian.oliver@leg.bc.ca
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