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$5 billion laundered through B.C. real estate in 2018, driving up home prices

OoOPps

Senior Member
I knew there was was some funny business going on but never realized it was that high.

https://www.ctvnews.ca/canada/5-billion-laundered-through-b-c-real-estate-in-2018-driving-up-home-prices-1.4415765


VICTORIA -- A report that estimates $5 billion was laundered through British Columbia's real estate market last year also lifts the lid on the extent of illegal cash moving across Canada.

Some $7.4 billion overall was laundered in B.C. in 2018, out of an estimated total of $47 billion in Canada, concluded the report by an expert panel led by former B.C. deputy attorney general Maureen Maloney.

The report is one of two released Thursday and says B.C. ranks fourth for money laundering among a division of six regions in Canada, behind Alberta, Ontario and the Prairies -- collectively Saskatchewan and Manitoba.
 

ROBERTSON

Senior Member
Rolex;n1469573 said:
How can they figure that out?.
Was wondering the same thing, and no mention of crypto currency, which I find rather narrow minded.

Or simply the gov. hasn't the guts to even mention crypto currency, which most likely the case.
 

ROBERTSON

Senior Member
cristy;n1469628 said:
A good read, but I still didn't see any concrete evidence on how the government knows what amount of cash that was used transactions, was dirty money.

I completely agree that this is going on, thats obvious, but unless the government brings in a law that makes it illegal use more than X amount of cash in a transaction, not much can be done.

And I still think the real problem, is governments still allow cryto currencies, that is well known to be used now to launder money.
 
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