The Ministry of Advanced Education, Skills and Training has launched an information campaign to prevent sexualized violence and misconduct around post-secondary campuses. (iStock photo)

B.C. post-secondary schools told to halt cash tuition payments to combat money laundering

Post-secondary schools will no longer be allowed to accept large cash payments from students

As money laundering remains top of mind for politicians and British Columbians alike, the province announced measures Tuesday in order to protect post-secondary schools from becoming targets for dirty money.

Beginning immediately, public and private post-secondary institutions will no longer be allowed to accept large cash payments from students, Advanced Education Minister Melanie Mark told reporters at the B.C. Legislature in Victoria.

Institutions without a policy on accepting cash for tuition are also being asked to develop one.

READ MORE: B.C. holding public inquiry to track rise of money laundering

This marks the latest move by the NDP government to quash money laundering in the province and follows a May 9th report by former deputy RCMP commissioner Peter German, which estimated that more than $7 billion in dirty money was laundered through B.C. in 2018.

READ MORE: Crackdown on money laundering does not include federal public inquiry

Although that report focused on how real estate, luxury cars and horse racing are implicated by criminals cleaning dirty money, German also identified alleged reports of money laundering in other vulnerable sectors, including the province’s post-secondary system.

“Peter German has advised that people are paying thousands of dollars in suspicious cash for multiple semesters in advance and then seeking refunds by cheque,” Attorney General David Eby said in a news release.

“Our post-secondary institutions must not be used to launder money, and we are asking them to review their policies to put a stop to it.”

READ MORE: RCMP has ‘no’ money laundering investigators in B.C.

READ MORE: Hot cars hide dirty money, B.C. investigation shows

B.C. is home to 25 public post-secondary schools where 437,500 students are registered, as well as 342 private career training institutions and private degree-granting institutions where 71,000 students attend.


@ashwadhwani
ashley.wadhwani@bpdigital.ca

Like us on Facebook and follow us on Twitter.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

UPDATE: Regional District of Central Kootenay declares state of emergency, issues evacuation orders and alerts

The evacuation alert covers all areas except the Cities of Castelgar and Nelson

Severe storm warning remains in effect for the Kootenays

Two special weather statements have been issued for the West Kootenay

‘I knew what he wanted’: Man recalls black bear chasing him up tree in Slocan Valley

Francis Levasseur is no stranger to the outdoors, but a recent run-in with a bear caused quite a scare

No passenger flights at West Kootenay Regional Airport until at least September

This is the third time Air Canada has announced changes to flight operations out of the airport

Powerful thunderstorms called for the West Kootenay this weekend

Environment Canada issued a special weather statement Thursday afternoon.

11 new COVID-19 cases in B.C. as top doc urges caution amid ‘encouraging’ low rates

Dr. Bonnie Henry also announced that two care home outbreaks would be declared over

Facing changes together: Your community, your journalists

The COVID-19 pandemic has changed the world in ways that would have… Continue reading

Surrey mayor’s party under fire for ‘sickening’ tweet accusing northern B.C. RCMP of murder

Mayor Doug McCallum says tweet, Facebook post ‘sent out by unauthorized person’

Father’s Day Walk Run for prostate cancer will be virtual event this year throughout B.C.

The annual fundraiser for Prostate Cancer Foundation BC has brought in $2.5 million since 1999

Dr. Bonnie Henry announces official ban on overnight kids’ camps this summer

New ban comes after talking with other provincial health officials across the country, Henry says

Senior man in hospital after unprovoked wolf attack near Prince Rupert

Conservation officers are on site looking for the wolf

VIDEO: NASA astronauts blast off into space on SpaceX rocket

Marks NASA’s first human spaceflight launched from U.S. soil in nearly a decade

Update: Deceased suspect in West Kootenay gas station stabbing only in town two weeks

Police say the 30-year-old suspect stabbed a Montrose gas station employee

PHOTOS: U.S. cities brace for increasing unrest over police killing of George Floyd

Minnesota Gov. Tim Walz has fully mobilized the state’s National Guard

Most Read