Canada’s British Columbia probes real estate money laundering

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September 28 2018

British Columbia said on Thursday that it had launched a probe into money laundering in its real estate market following widespread concerns that illegal activity may have helped inflate housing prices in Canada’s most expensive province.

The probe will be two-pronged, with the Ministry of Finance looking at systematic risks that make real estate and financial services vulnerable to money laundering, and the Ministry of the Attorney General investigating specific cases to understand how money launderers operate in the province.