A money laundering crackdown sparked by lavish bets at Vancouver gambling tables has a new target in sight: The Canadian city’s gleaming luxury dealerships where buyers can pay cash for $300,000 supercars. A 2016 report that the previous government hadn’t disclosed indicated large amounts of suspicious cash had been flowing through British Columbian casinos. They were also prohibited from accepting cash from customers involved in two consecutive cash transactions until it was determined the source wasn’t suspicious or illegal. On average, roughly $5 million a month in suspicious cash was being flagged at B.C. is pushing the federal government for a coordinated response to money laundering, arguing that provincial measures alone could simply push activity to other regions.

Source: National Post March 28, 2018 17:09 UTC