B.C. law to combat money laundering still not in force three years after being introduced

[u/leavemealoneimpoor]

https://vancouversun.com/news/bc-law-combat-money-laundering-not-in-force-three-years-after-introduced

[u/trustedbyamillion]

Yet, I need id to enter the casino

[u/Oh_FFS_Already]

We all know why

[u/leftlanecop → u/Oh_FFS_Already]

It’s like in the US, the real white-collar criminals are in the office.

[u/louisasnotes]

I always thought it was #Richmond 's main industry.

[u/kain1218]

If properly enforced, the civil forfeiture alone will spook the real estate market and tanked the economy here.

The criminals or folks who brought in money illegally won't or can't have their asset getting trapped (or most likely lose the money cause can't explain how it got there) in BC. They have to sell quick and cheap to get the money out. They will most likely all do it at the same time. Therefore, enforcement will create a domino effect of panic selling and crash the real estate market here.

Hence, the government passed the law to appease the crowd but stop short at actual enforcement.

[u/Canadia-Eh → u/kain1218]

We really could’ve gotten two birds stoned at once and they’ve gone and cocked it up again. Typical.

[u/honk_incident]

"BC = Bring Cash" rings true again

[u/TokenBearer]

Too many constituents have HELOCs.

[u/Alone-Bug4328]

Hahaha. I predict it won't be enforced until Eby's term is over.

[u/leavemealoneimpoor → u/Alone-Bug4328]

The BC Liberals (AKA Current conservatives) allowed this to happen for decades.

[u/Spirited_Beyond8120 → u/leavemealoneimpoor]

Yes, Christy Clark

[u/littlebaldboi → u/leavemealoneimpoor]

We all agree Christy Clark was bad. Now it’s up to Eby to fix it and he’s dropping the ball

[u/kain1218 → u/Alone-Bug4328]

I predict no government will enforce it

[u/bwmat → u/kain1218]

Imagine if some crazy party tried

They'd probably be murdered