British Columbia’s money laundering crisis is a topic of wide discussion with pieces of information about its potential true scope emerging on a regular basis. A Richmond individual was recently arrested by the Royal Canadian Mounted Police in relation to supposed casino transactions of large amounts of dirty cash. Upon cuffing him, law enforcement officers located some CA$10,000 in cash in his possession.
Laundering money generated via illegal operation such as the traffic of fentanyl in China appears to be a preferred activity for criminals eyeing Canada as the most appropriate location to do so. The environment seems to be appropriate enough for the thrive of washing criminal cash and Richmond has been previously pinpointed as one of the hotspots. Information was recently revealed in relation to an arrest of a local individual that was allegedly related to casino money laundering in the area.
Local Arrested with CA$10,000 in Cash
The transportation of large amounts of cash is often times linked to an illicit operation and potential money laundering and this is not the first case when the RCMP has probed into a potentially illegal operation in Richmond. In this case, the individual was cuffed at a traffic light, which is when the stacks of cash were located.
For the time being, no additional information about his identity has been issued. No charges have been announced for the time being, but it should be taken into account that the cash he had on himself comprised CA$100 bills. Previous reports have shown that casino venues in the area facilitating money laundering are particularly fond of CA$20 bills that made possible the alleged washing of criminal proceeds.
In addition to the cash, police offices also seized two cellphones, as well as about CA$1,450 of personal cash he carried. This could be an individual linked to the casino money laundering scheme that transformed Richmond into one of the casino laundromats hubs in British Columbia. Facilitated by underground banks, criminals have found their perfect spot for the concealment of the origins of the illegally amassed cash.
Money Laundering Reports Soon to Be Issued
This week has been an action-packed one since new intelligence was completed and submitted to the British Columbia government for an extensive review. Former RCMP Deputy Commissioner Peter German issued his second report on the subject, this time focusing on the real estate industry of the province, as well as the horse racing and luxury cars fields.
After months of research and conversations with people acquainted with what transformed Vancouver into the most expensive housing market in Canada. Locals were eager to chime in with their pieces of information that further supported his work. In addition to his report, a second one provides recommendations from a panel of experts seeking to eliminate money-laundering loopholes.
The mandatory check of the reports aims to prevent information leak in relation to ongoing probes and the reports would be issued publicly very soon. Meanwhile, the U.S. Department of State issued its 2019 International Narcotics Control Strategy Report which listed Canada among other countries facilitating money laundering of proceeds amassed via illegal operation and illegal drug trafficking.
