Real Estate Professions Taking the Lead to Curb Money Laundering

Media coverage that captured REALTOR® professionalism

On Monday, April 15, 2019, the British Columbia Real Estate (BCREA) headlined the provincial and national news after it released a series of recommendations and best practices to government to help curb money laundering. The recommendations were developed collaboratively with four other organizations: the Real Estate Board of Greater Vancouver, the Appraisal Institute of Canada – BC Association, the Canadian Mortgage Brokers Association British Columbia and the BC Notaries Association.

More than 150 publications covered our joint anti-money statement and recommendations that were submitted to the provincial and federal governments. Shortly after the statement was made public Attorney General David Eby and Minister of Finance Carole James welcomed the recommendations and applauded our efforts to keep the proceeds of organized crime out of the economy.

The government's support of our efforts and positive media coverage gave British Columbians a better appreciation of REALTOR® professionalism and their commitment to their clients and communities. With the results of Peter German's report on money laundering in real estate and the Expert Panel on Money Laundering's investigations soon to be released, it was important to make it clear that REALTORS® cannot be treated as part of the problem. REALTORS® are essential allies in finding long-term solutions.

Media coverage
BCREA CEO Darlene Hyde did interviews with a number of media outlets following the release of the joint anti-money laundering statement, including the Globe & Mail, News1130, Fairchild Radio, CBC Vancouver and Business in Vancouver. Some more highlights include:

• Vancouver Sun
• Global News
• National Post
• Calgary Herald
• CTV News
• Western Investor

Pictured: Harriet Permut of The Real Estate Board of Greater Vancouver, Darlene Hyde of BCREA, Hon. David Eby, Trevor Hargreaves of BCREA and Christina Dhesi of the Appraisal Institute of Canada - BC Association.

Read the Real Estate Sector Anti-Money Laundering Statement here.

Read the provincial government joint statement here.

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