Public inquiry is needed into money laundering
Our reputation is in tatters, Andrew Weaver writes.
B.C. has been the victim of organized crime for more than a decade and at least two of our governments have known about money laundering operations. It is time for action on behalf of British Columbians.
In recent months, we have seen revelations that money laundering is extensive and pervasive in B.C. Last year, the G7’s Financial Action Task Force, which identifies threats to international order, reported that $1 billion a year is funnelled through B.C. casinos. The provincial government admitted it was not fully aware of what had been going on.
Multiple whistleblowers have come forward to expose wrongdoing and we have learned that the initial estimates of money laundering were staggeringly low. Indeed, the attorney general announced in January that as much as $2 billion of dirty money flowed through B.C.’s casinos and housing market in a single year. We know now that this issue is directly tied to the opioid crisis, which has taken so many lives. This underground industry is directly linked to the more than 1,400 people who died due to opioid overdoses in B.C. last year. Money laundering has also affected our housing market, contributing to skyrocketing housing prices.
People are losing trust in government. That cannot continue.
How can this level of crime exist without punishment or even knowledge? These unanswered questions are precisely why we have a duty to act quickly and decisively to get to the heart of what has unfolded and how we can address it.
We need a public inquiry.
An inquiry functions outside of partisan influence or criminal jurisdiction. Like the Charbonneau Commission in 2011, public inquiries can supplement criminal charges with real, actionable recommendations to identify, reduce and prevent such events from reoccurring. That is something that criminal charges are unable to address. In other words, it
The ‘Vancouver model’ has become synonymous with international organized crime.
is about more than getting to the bottom of who is guilty, it is about changing the toxic environment that allowed these systemic abuses to occur in order to safeguard the public interest going forward.
B.C.’s international reputation as a haven for money laundering is now known, not only to international criminal networks but also to governments and citizens across the world, with opinion pieces hitting the pages of major newspapers like the Washington Post. The “Vancouver model” has become synonymous with international organized crime. Our reputation is in tatters.
More than 76 per cent of British Columbians support a public inquiry. The cities of Vancouver, Victoria and Richmond, and the B.C. Government and Service Employees’ Union have all formally called for an inquiry.
While an inquiry would cost millions and take years to complete, the costs that have been carried by our province for years are far greater. The issue hints at corruption and a culture of silence condoned at the highest levels. An inquiry must be taken out of the hands of politicians and given independence to do its work.
Two weeks ago, I called on the provincial government to initiate a public inquiry into money laundering but they not committed to taking this crucial step. Money laundering was able to invade our province and the public deserves full answers and a clear path forward to ensure that we root it out. That is why I and the entire B.C. Green caucus will continue to insist that we get an independent public inquiry into money laundering in the province.