16 June 2022
The commission was mandated with examining whether systemic regulatory failures allowed money laundering to take root in British Columbian casinos and real estate. The commission collected testimony of 200 witnesses, including former Premier Christy Clark and former gaming minister Rich Coleman, in an investigation that took place over more than 130 days. The Commission was established in May 2019 to examine the extent of money laundering in British Columbia. Areas of focus included real estate, as well as the gaming sector, financial institutions, the corporate sector, lawyers and notaries, accountants, luxury goods and virtual assets. The inquiry found that the "Vancouver Model" connected British Columbia, Las Vegas, and Macau casinos. Funds would come into Vancouver from transnational Chinese and Asian crime syndicates via Chinese underground banks. In this final report, Commissioner Austin Cullen recommended the creation of a provincial anti-money laundering unit and changes to FINTRAC. Additionally, the Commissioner was unable to find a link between money laundering in real estate and housing unaffordability.