Attorney General David Eby and Finance Minister Carole James released a joint statement saying the collaboration will go a long way towards getting dirty money out of the real estate market and protecting consumers. VICTORIA—Five agencies are banding together to help fight money laundering in British Columbia’s real estate industry. Real Estate Association says in a news release the groups commit to sharing best practices to help keep proceeds of crime out of the economy and ensuring the public has full confidence in B.C.’s real estate market. The other participating organizations include the Appraisal Institute of Canada, BC Notaries Association, Canada Mortgage Brokers Association and the Real Estate Board of Greater Vancouver. The groups have committed to share those best practices, including accepting only verified funds and making anti-money laundering education mandatory for all real estate agents.

Source: thestar April 15, 2019 19:52 UTC