CULLEN COMMISSION – RCMP AND FINTRAC BLAMED IN LANDMARK REPORT ON MONEY-LAUNDERING

On 15 June, many sources contained details of the Cullen Commission report on money laundering involving the gambling sector and property in British Columbia.  It is said that it is impossible to know just how much criminal cash is laundered in the province every year, but that some estimates put the amount “in the billions”.  In additional to a new AML commission, Cullen recommended the creation of “a dedicated provincial money laundering intelligence and investigation unit with a robust intelligence division”.  The report criticised the RCMP for its “lack of attention to money laundering [that] has allowed for the unchecked growth of money laundering since at least 2012”.  Reports of drug traffickers and organised criminals laundering money through British Columbia casinos was one of the main reasons the Cullen Commission was established by Premier John Horgan in May 2019.

https://theprovince.com/news/crime/cullen-commission-makes-101-recommendations-to-tackle-money-laundering-in-b-c

https://www.thestar.com/news/canada/2022/06/15/canadas-anti-money-laundering-regime-is-broken-finds-bc-report.html

https://www.nytimes.com/2022/06/15/world/canada/canada-money-laundering.html

https://www.piquenewsmagazine.com/opinion/opinion-cullen-commission-on-bc-money-laundering-is-only-the-starting-point-of-a-long-road-5483420

The report itself is on the Cullen Commission website –

https://cullencommission.ca/

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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