News

News, Reports Stevie Driscoll News, Reports Stevie Driscoll

New Survey Says Majority of Canadians Concerned and Want Action About Money-Laundering, or ‘Snow-Washing’

A new survey by the Angus Reid Institute finds that a majority of Canadians think money laundering is a problem and want action taken. The survey found:

Three-quarters of Canadians say money laundering is an issue within their own province (74%). Even more, say the [sic] on a national level (81%) it is a challenge that Canada needs to address.

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Reports, News Stevie Driscoll Reports, News Stevie Driscoll

Billions in Unknown Funds Flow Through Toronto Real Estate, Shows New TI Canada’s Report

In Canada, individuals can own a property and hide this fact from law enforcement, tax authorities, and private sector entities with anti-money laundering (AML) obligations. Canada’s property registers allow beneficial owners to use companies, trusts, or nominees to hold title to property and remain anonymous, which facilitates money laundering in the real estate sector, or as it has come to be known in Canada, ‘snow-washing’.  

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Highlights, News, Press Release, Reports Daniela Chimisso dos Santos Highlights, News, Press Release, Reports Daniela Chimisso dos Santos

TI launches report on Beneficial Ownership; Canada ranked as weak

Major corruption scandals hitting the news often share key commonalities: the people at the centre of the scandal use a complex web of anonymous companies, trusts and other legal entities situated across multiple jurisdictions to transfer and hide their illicitly sourced funds.

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