Bags of cash, luxury car export scheme described in B.C. money laundering report
VICTORIA — An independent report suggests organized criminals are laundering money through British Columbia’s luxury car sector and some are even receiving tax rebates from the province for the transactions.
The B.C. government tasked former RCMP deputy commissioner Peter German in September to identify potential links between criminal enterprises and real estate, horse racing and luxury vehicle industries.
Attorney General David Eby called the findings released Tuesday “disturbing confirmation” that money laundering is a problem in B.C. that goes beyond the previously identified channel of casinos.
“In the luxury car market, there is no financial reporting of large cash purchases, no oversight of international bank wire transfers and no apparent investigation or enforcement,” he said.