Considering the emergence of new techniques for laundering money, especially in the real estate sector, a new money laundering course will be made compulsory for operators in the real estate sector as a major requirement to renew their license after April 1, 2020. According to the CEO of the Real Estate Council of BC Erin Seeley, the mandatory course is intended to enlighten and educate operators about what to look out for and measures to take in case of suspicious activities. He further said the course would teach signs of suspicious activity. The basis of red flags including the use of unregulated lenders, or making purchase without a mortgage and the use of nominees or trustees. The course will be done online and it broadens realtors’ knowledge on the myths of money laundering
