B.C.’s New Anti-Money Laundering Course: What You Should Know

Money laundering has left the real estate market vulnerable to criminal activity and market manipulation, according to the B.C. government-appointed Expert Panel on Money Laundering. That’s why a new course called Anti-Money Laundering in Real Estate will be compulsory for all licensed real estate professionals in B.C., including those licensed for Strata Management.

Although money laundering may be more of an issue for those in Trading Services, the board of the Strata Property Agents of British Columbia (SPABC) feels it is important our members are aware of the issue and of reporting obligations so they can better protect our clients and help monitor the situation.

Beginning April 1, 2020, completing the Real Estate Council of British Columbia’s (RECBC) Anti-Money Laundering in Real Estate will be required for licence renewal. The course gives participants the tools and knowledge to understand the issue and hopefully prevent illicit funds from entering B.C.’s real estate markets.

The course was designed to support property professionals to stay current and informed about anti-money laundering requirements and best practices to ensure consumers are well-protected.

Bottom line?

This initiative not only addresses a potential criminal activity but builds the public’s confidence in B.C.’s real estate industry.

For a limited time, SPABC members can save on the course fee:

• When you register before March 31, the Anti-Money Laundering in Real Estate course costs just $25.
• Register after March and the course price increase to $50.
• In July, the course fees goes up to $100 .

To register for the course and for more information, visit https://www.recbc.ca/licensee/all-licensees.html