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BC Unveils Mortgage Reforms to Fight Fraud — But Critics Say It's Too Late — Coastal Front
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BC Unveils Mortgage Reforms to Fight Fraud — But Critics Say It's Too Late — Coastal Front
(Image courtesy of CBC) The BC government has approved new rules for the province’s mortgage industry aimed at cracking down on fraud and money laundering. Still, critics argue that the measures arrive late and fall short of fully implementing key anti-money laundering recommendations made over three years ago.The new Mortgage Services Act (MSA), which will replace the outdated Mortgage Brokers Act in October 2026, brings sweeping regulatory cha…
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