BC Money Laundering Report: A Conversation with Finance Minister Carole James
An estimated $5.3 billion worth of real estate transactions in B.C. last year were the result of money laundering, helping to fuel the province’s skyrocketing housing prices, according to a new report. An expert panel on dirty money in the overall real-estate market estimates that five per cent of the value of 2018 purchases were for laundering purposes, contributing to about a five per cent rise in housing prices. BC finance minister and deputy Premier Hon. Carole James talk with Harjinder Thind to discuss this issue and what BC government is planning on doing to combat this issue.