“The review found car dealers in B.C. freely reporting individuals bringing bags of money or orchestrating multiple, small international wire transfers to different accounts in order to buy l…
Money laundering is taking place in the luxury car market in the B.C., including with the use of bags of cash, a second B.C. government report on money laundering has found.
A final portion of the report on money laundering in the real estate industry is expected to released soon. The bank accepted the money because it is not illegal to do so from a business such as a luxury car dealer, said German. Money laundering has been under a heavy spotlight in British Columbia, a result of revelations uncovered in a Postmedia investigation in 2017 that found potentially millions of dollars were being laundered through Lower Mainland casinos.
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