Toronto’s real-estate market welcomes criminals, giving them an easy way to invest dirty money and driving up housing prices for regular people, according to a report published today by Transparency International Canada. … Canadian real estate has attracted the attention (and money of dubious origin) of corrupt government officials and organized crime syndicates from across the globe.”Adam Ross, author of the new Transparency International Canada report that says dirty money is driving up Toronto real estate prices. Getting real estate professionals to comply with the law has also been a challenge. British Columbia has plans to establish a public registry of the real owners behind companies that purchase real estate. In the meantime, anonymous ownership is still a reality in Toronto’s property market, the Transparency International Canada report states, attracting dirty money from far and wide.

Source: thestar March 21, 2019 09:22 UTC