Attorney General David Eby will appear before the federal finance committee to discuss the work underway to fight money laundering in B.C.

On March 27, 2018, Eby will be in Ottawa to present to the House of Commons Standing Committee on Finance, providing input for the federal government’s ongoing public consultation regarding amendments to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act.

This presentation comes as Peter German’s independent review of anti-money laundering policies and practices in B.C. casinos nears completion. The Attorney General appointed German in September 2017 to conduct a review of anti-money laundering policies and practices in relation to B.C. casinos. As part of his review, German is also exploring what connection, if any, the issue has with other sectors of B.C.’s economy, including real estate or tax policy.

German presented to government two interim recommendations in December 2017. Government accepted these and directed that they be implemented as soon as possible. On Jan. 10, 2018, the BC Lottery Corporation implemented the first recommendation that requires casino customers to complete a source-of-funds declaration for cash deposits of $10,000 or more. The second requires that government regulators be onsite at large, high-volume casinos on the Lower Mainland and available to gaming service providers. Work is underway to ensure this enhanced presence is available.

German’s full report is expected to be delivered to government before March 31, 2018.

Quick Facts:

• The House of Commons Standing Committee on Finance meets to examine and enquire into all matters referred to it by the House of Commons, which may include pre-budget consultations, briefing sessions by departmental officials on federal programs, and consideration of proposed legislation.
• B.C.’s Attorney General is responsible for gambling policy, enforcement and the Province’s responsible gambling strategy, as well as oversight of the BC Lottery Corporation.
• German is a former deputy commissioner of both the RCMP and Correctional Service Canada, and is the author of Canada's leading anti-money-laundering law textbook, Proceeds of Crime and Money Laundering.
• The independent review of money laundering policies and practices in the gambling industry began in late September 2017, with two interim recommendations implemented to date, and will be completed by the end of March 2018.

Learn More:

• House of Commons Standing Committee on Finance: http://www.ourcommons.ca/Committees/en/FINA
• Reviewing Canada's Anti-Money Laundering and Anti-Terrorist Financing Regime: https://www.fin.gc.ca/activty/consult/amlatfr-rpcfat-eng.asp
• Anti-money-laundering investigation terms of reference: http://www2.gov.bc.ca/assets/gov/sports-recreation-arts-and-culture/gambling/gambling-in-bc/ag-independent-review-tor.pdf