Association Meeting – The Role of Accountants in Preventing Money Laundering

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Date(s) - June 1, 2023
8:00 am - 9:30 am

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In 2018, the Attorney General of British Columbia released Dr. German’s independent review of allegations of money laundering in Lower Mainland casinos. The report received wide circulation in Canada and abroad and described the Vancouver Model of money laundering. A second report, into allegations of money laundering in the real estate, auto and horse racing sectors, was released in 2019, and includes reference to lawyers and accountants in their role as gatekeepers.

In June 2022, Justice Austin Cullen released the final report of the Commission of Inquiry into Money Laundering in B.C. The report exceeds 1,000 pages in length and includes a detailed examination of the role of the accounting profession in money laundering prevention, making various recommendations. The provincial government is currently reviewing its 100-plus recommendations.

In the current environment, accountants must be more vigilant than ever to ensure that they do not becoming the witting associates or the unwitting dupes of organized crime and money launderers. In his presentation, Dr. German will review the state of financial crime in Canada and British Columbia, with emphasis on the role of accountants.

Guest Speaker: Peter German

Peter German KC, PhD, is President of the International Centre for Criminal Law Reform and Chair of the Advisory Committee of the Vancouver Anti-Corruption Institute (VACI). He is currently a visiting semester professor in the Faculty of Law at Bond University.

A lawyer and member of the Ontario and British Columbia bars, he was previously a member of the Royal Canadian Mounted Police, serving as its Director General of Financial Crime and as Deputy Commissioner for Western and Northern Canada. He was also Regional Deputy Commissioner (Pacific) for Correctional Service Canada and served as the initial team commander in the 2008 search for kidnapped Canadian diplomats in West Africa.

He holds various degrees including a Doctorate in Law from the University of London, focused on asset recovery. Dr. German is the author of “Proceeds of Crime and Money Laundering”, published by Thomson Reuters (updated bi-monthly). He is also the author of “Dirty Money” and “Dirty Money – Part 2”, reports commissioned by the Attorney General of B.C., relating to allegations of money laundering in the casino, real estate, luxury vehicle & horse racing sectors. His medals and awards include King’s Counsel and Officer of the Order of Merit of the Police Forces.

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