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Vancouver’s Real Estate Boom Raises Questions on AML Oversight: Former Investigator
printLax enforcement of Canada's anti-money laundering laws and regulations have helped make British Columbian property an attractive investment for criminals, according to Kenneth Marsh, a former investigator of organized crime for the Royal Canadian Mounted Police. Because prosecution rates remain low and the real estate sector as a whole has reported few suspicious deals to the Financial Transactions and Reports Analysis Centre (Fintrac), the province has become a "pretty risk-free place" for money launderers, said Marsh, now an executive vice president with IPSA International in Vancouver. In a recent interview with ACAMS moneylaundering.com reporter Larissa Bernardes, Marsh advocated for tougher...
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