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

The Nellie McClung Library is booked for June 22 and 23

Friends of the Library announce a big summer book sale the Nellie McClung branch

Average housing prices would have to drop by $413,000 for Victoria to become affordable

Alternatively, salaries need to increase to $134,000 per year, more than double current levels

Bears have killed 17 people in B.C. since 1986

Number of bear complaints and bears killed rose sharply during same period

Oak Bay resident wins fight to remove tree

With St. Patrick Street tree removal, Oak Bay now aims to plant 6,401 trees

Victoria Mavericks baseball league showcasing top-level talent

Former and current college players highlight many rosters

Victoria Weekender: What’s happening this weekend, June 15-16

Car Free YYJ, a barber battle and an Outdoor Discovery Day

Homalco tour gives glimpse into area’s ‘People, Land, Water’

First Nation business mixes cultural components with wildlife excursions

Revamped B.C. Lions set to battle veteran Winnipeg Blue Bombers

The Lions’ first test of the season will be a big one

No business case for Trans Mountain expansion, says former environment minister

Cabinet is expected to announce its decision on the expansion of the Alberta-to-B.C. pipeline by Tuesday

LETTER: British Columbia’s forest industry crisis being made worse

Andrew Wilkinson warns of regulatory overload by John Horgan’s NDP

Convicted B.C. child abductor Randall Hopley back in custody 6 months after release

Correctional Services Canada could not provide further details due to privacy concerns

Three Albertans land ‘monster’ sturgeon in B.C.’s Fraser River

For angler who landed the exceptionally large sturgeon it was an ‘incredible dream come true’

Langford-Opoly game coming to West Shore Walmart this week

Game features local haunts like Darcy’s Pub, Hatley Castle and Luxton Fair

Toronto Raptors and their diverse team celebrated worldwide

Team is made up of players from the U.S., Canada, Cameroon, the Republic of Congo, and Spain

Most Read