B.C. is investigating possible money laundering in Lower Mainland casinos. (Black Press files)

B.C. is investigating possible money laundering in Lower Mainland casinos. (Black Press files)

Track cars bought for cash, money laundering investigator says

Peter German says Vancouver is ‘Canada’s luxury car capital’ with no oversight

Cash purchases of luxury cars and other expensive items should be subject to “geographic targeting,” the money laundering expert hired by the B.C. government recommends.

“The criminal lifestyle is often attracted to expensive consumer goods, such as luxury cars, and due to their high value, these items can also be used to reintroduce illegal cash to the legitimate economy,” says one of the latest recommendations from Peter German, a former deputy commissioner of the RCMP. “Currently, there is no tracking by government of cash purchases for luxury items.”

German calls Vancouver “Canada’s luxury car capital,” recommending that Metro Vancouver dealers should report cash purchases. A reporting threshold higher than $10,000 may be needed to prevent the shift of local buyers to other areas, he says.

B.C. Attorney General David Eby released a new set of interim recommendations from German Monday as he prepares to appear before the federal finance committee in Ottawa this week.

German also calls for better resourcing of police, after the RCMP eliminated its national commercial crime and proceeds of crime sections in 2012.

“Although the RCMP is rebuilding its financial crime expertise, the gap in federal policing in this area between 2012 and 2017 shifted responsibility for white-collar crime to provincial and municipal police forces, which generally do not have the resources or expertise to take on these complex files,” German said.

The federal government is considering changes to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act. German recommends information sharing between police agencies and the federal government’s Financial Transactions and Reports Analysis Centre (FINTRAC), which requires reporting of large cash transactions at casinos.

B.C. has already implemented two of German’s recommendations for casinos. One requires casinos to fill out a form identifying the customer and the source of funds for any cash or bearer bond deposit of $10,000 or more.

The other is to hire government regulators to be “seen on site at large, high-volume facilities” 24 hours a day.

BC legislaturemoney laundering

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Jon Bonneschranz retired from the Prince Rupert Fire Rescue Department at the end of April after 22 years of service to the city. He was also one of three firefighters honoured with the department’s first life-saving award. (Photo: K-J Millar/The Northern View)
Heart of our City – Jon Bonneschranz, fighting fish to fighting fires

Retiring Captain Jon Bonneschranz hangs up his helmet after 22 years

Sheila McDonald coordinator at the Prince Rupert Seniors’ Centre Association said on May 6th, the new fridge purchased with $5,000 from the BC Maritime Employers Association will help sustain the Better at Home Food Assistance program. (Photo: K-J Millar/The Northern View)
Prince Rupert Seniors’ Centre Association chills out with $5,000 donation

BC Maritime Employers Association uses Seniors’ Centre for training purposes

A Prince Rupert man fled after being placed under arrest on April 28. The incident caused an elementary school and local residents to be warned to stay inside. (File photo)
Wanted Prince Rupert man flees after arrest – later apprehended

Local school and residents told to stay inside during pursuit of man wanted from 2019 gun incident

As the BC CDC reports on May 5 declining pandemic numbers and only one case of COVID-19 in Prince Rupert, the vehicles parked outside the local testing center also decrease. (Photo: K-J Millar/The Northern View)
Prince Rupert COVID-19 numbers down again

Second outbreak at Acropolis declared over

Northern Health Authority is requesting local residents to refrain from attending the Prince Rupert Regional Hospital unless necessary, as some services have been affected by a fire on May 5. (Photo: K-J Millar/The Northern View)
Fire at Prince Rupert Regional Hospital creates a reduction in services

Northern Health is asking residents to not attend hospital unless necessary

(The Canadian Press)
Trudeau won’t say whether Canada supports patent waiver for COVID-19 vaccines

‘Canada is at the table to help find a solution’

Edmonton Oilers’ Connor McDavid (97) celebrates his 100th point this season with Leon Draisaitl (29) against the Vancouver Canucks during second period NHL action in Edmonton on Saturday, May 8, 2021.THE CANADIAN PRESS/Jason Franson
Edmonton superstar McDavid hits 100-point mark as Oilers edge Canucks 4-3

NHL scoring leader needs just 53 games to reach century mark

A map showing where the most number of cases were recorded from April 23 to 29. This map, revealing a breakdown of infections by neighborhood, was pulled from a data package leaked to the Vancouver Sun last week (and independently verified).
36 Abbotsford schools flagged for COVID-19 exposures in the last 2 weeks, shattering record

Clearbrook Elementary recorded an ‘exposure’ on all 11 school days

Canada’s chief public health officer is reminding Canadians even those who are fully vaccinated are not immune from transmitting the COVID-19. THE CANADIAN PRESS/Adrian Wyld
Canada’s top doctor warns full vaccination does not equal full protection from COVID-19

Post-inoculation, Theresa Tam says the risk of asymptomatic infection and transmission is far lower but not obsolete

The dash cam footage, taken May 7 at 8:18 a.m. belonged to the driver of a southbound vehicle that recently travelled out of the tunnel. (Reddit/Screen grab)
VIDEO: Dash cam captures dramatic rollover crash on Highway 99

Only one person sustained injuries from the collision, says B.C. Ambulance Services

Chevy stranded on a ledge above a rocky canyon at Mimi Falls near Logan Lake, April 28, 2021. (Photo credit: Margot Wikjord)
Police officer and fire chief team up in risky rescue of stranded dog near Logan Lake

Chevy, a rescue dog, needed rescuing again after getting stuck on a ledge above rocky canyon

Police were on the scene of a fatal shooting in Abbotsford. (Black Press Media files)
B.C. government to give more than $8 million for programs to curb gang violence

221 not-for-profit projects led by local governments and school districts among others will receive a one-time grant

Gord Judson steers his log truck down a forest service road, using two-way radio and call signals to mark his position for oncoming traffic. (B.C. Forest Safety Council)
Planning some B.C. wilderness fishing? Don’t catch a log truck

Remote recreation areas bracing for heavy pandemic pressure

Most Read