Report: BC post-secondary institutions vulnerable to money laundering

May 14, 2019

Post-secondary institutions in British Columbia may unwittingly be used as an avenue for money laundering, according to a report by former RCMP Deputy Commissioner Peter German. The report adds that German’s team received tips about colleges that accepted cash for tuition which, in the case of some international students, "can run from $7,000 to $10,000." The report explains that students would register and pay fees before withdrawing from the program and accepting an institutional cheque as reimbursement. CBC reports that public post-secondary institutions are not uniform in their criteria for accepting cash, but notes that the University of British Columbia has not accepted cash in over 10 years and that Simon Fraser University has not accepted cash since 2017. CBC (BC)