Money laundering reports

Read the reports and learn about the public inquiry commissioned by the Province of B.C.

Information in expert reports helps the government better understand issues and implement policies to address the complex and wide-spread issue of money laundering.

The Cullen Commission

In 2019, the B.C. government commissioned a public inquiry to address public concern about money laundering distorting the province’s economy, fueling the overdose crisis and driving up housing prices.

The Commission of Inquiry into Money Laundering in British Columbia, also known as the Cullen Commission, outlined the full scope of money laundering in real estate, gambling, financial institutions and corporate and professional sectors.

In 2022, B.C. Supreme Court Justice Austin F. Cullen delivered the final report which included 101 recommendations to address money laundering, including 68 direct actions for the Province of B.C.

Read the Cullen Commission Final Report (PDF, 16MB) and learn about the report recommendations.

Dirty Money reports

In 2018, to address widespread public concern about money laundering, the Province of B.C. commissioned a report to examine allegations of money laundering in Lower Mainland casinos.

The report Dirty Money, authored by Dr. Peter German, and a follow-up report, Dirty Money 2, describe how money is laundered through gambling, construction and real estate industries, as well as in the luxury car and horse racing sectors. Government has addressed all 48 recommendations from Dr. German’s first report.

To learn more, see:

• Dirty Money, an Independent Review of Money Laundering in Lower Mainland Casinos conducted for the Attorney General of British Columbia (PDF, 3.8KB), authored by Dr. Peter German
• Dirty Money Part 2: Turning the Tide, an Independent Review of Money Laundering in B.C. Real Estate, Luxury Vehicle Sales and Horse Racing (PDF, 3.5KB), authored by Dr. Peter German

Combatting Money Laundering report

The B.C. government appointed an Expert Panel on Money Laundering in 2018 to review the real estate sector and look at how money is laundered through gaps in consumer protections, compliance and enforcement of laws, as well as other areas.

In their review, the Panel met with a wide range of federal and provincial agencies involved in law enforcement, financial sector regulation, professional regulation, AML activities and other related activities. The Panel also met with representatives from the real estate market.

The Expert Panel on Money Laundering was asked to produce a report on money laundering in the real estate sector. The Panel estimated that between $800 million and $5.3 billion was laundering through the real estate market, raising house prices by 5 percent. The report was presented to government with recommendations to prevent and deter money laundering through real estate.

The majority of the recommendations in these reports have been implemented.

See Combatting Money Laundering in B.C. Real Estate and read the panel’s final report (PDF, 4.7MB).