【Bloomberg】Housing Is a Magnet for Money Launderers in Toronto: Study

Toronto’s housing market has become a target for money laundering or “snow washing,” thanks to anonymous property ownership, weak regulation and lax enforcement, according to a new study.

Since 2008, C$28.4 billion ($21.3 billion) worth of housing was acquired in the Toronto region largely through private entities where owners can remain anonymous, according to a report released Thursday by Transparency International Canada, Canadians for Tax Fairness and Publish What You Pay Canada.

In that period, C$9.8 billion of housing was bought by companies through cash purchases, largely bypassing anti-money laundering checks on fund sources and beneficial owners, according to the study, which analyzed more than 1.4 million residential sales dating back to 2008.

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2019年3月21日 下午11:48 [GMT+8]