Why criminals look to Canada to launder their money through real estate


By Christopher Reynolds / The Canadian Press
News that some $5 billion was laundered through British Columbia’s real estate market in 2018 comes as no surprise to experts, as Canada’s weak money-laundering laws make it an attractive spot to park ill-gotten cash. Kevin Comeau, author of a recent C.D. Howe report on money laundering, says people in corruption-prone states who seek to hide the source of their wealth can’t just buy a big house in their community, so they often look to cache it abroad.…

Source:: Why criminals look to Canada to launder their money through real estate


May 13, 2019

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