Better Dwelling | Canadian Real Estate Has A Money Laundering and Fraud Problem: Intelligence Report

In the below article from Better Dwelling, Intel just confirmed, Canadian real estate is a haven for money laundering and fraud. Criminal Intelligence Service Canada (CISC), a national intelligence agency, quietly produced an anti-money laundering report in 2020. The report focuses on the scope and extent of money laundering in Canada. The agency found real estate was used extensively as a tool for criminal activity. Organized crime is engaged in everything from laundering, to helping regular families forge mortgage documents. All of this creates extra demand for housing, helping to push home prices higher — and rents as well.

Canadian Real Estate Is A Popular Money Laundering Tool

Canadian real estate is often exploited for money laundering due to opaque laws. According to the report, the proceeds of crime are used to buy the property through various schemes. Using illicit funds for down payments or mortgage payments are two straightforward methods.....

Canadian Real Estate Has A Money Laundering and Fraud Problem: Intelligence Report - Better Dwelling