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    Money laundering in Vancouver appears to be ‘cottage industry,’ inquiry hears



    The public inquiry into money laundering in B.C. entered its second phase on Monday, with experts providing an overview of the crime and how it’s regulated.

    The first presenter, criminologist Stephen Schneider, told commissioner Austin Cullen that he had to rely partially on reports from Vancouver news outlets because of a lack of proper, peer-reviewed studies on the topic.


    READ MORE:
    B.C. mayor hopes money laundering inquiry becomes must-see TV

    In Vancouver, Schneider said, there seems to be businesses whose sole purpose is to launder money, and that it has become a “cottage industry” in which people become specialists or consultants to help organized crime groups transport and launder dirty cash.

    The commission has pushed forward with video conferencing amidst the COVID-19 pandemic.

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    WATCH LIVE: B.C. money laundering inquiry resumes

    The inquiry was called last May by Premier John Horgan after intense pressure to hold authorities and criminals accountable for the level of crime happening in the province’s casinos, housing market and luxury car industry.

    The current round of hearings will run from May 25 to June 26.

    More to come.




    © 2020 Global News, a division of Corus Entertainment Inc.








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