How do we follow the money? Canadian real estate gets ‘abysmal’ anti-money laundering grades

An internal report from Canada’s anti-money laundering watchdog found nearly half of the real estate companies audited weren’t complying with key areas of the country’s anti-money laundering regime and experts warn these “serious gaps” can hurt criminal investigations. 

The report prepared by the Financial Transactions and Reports Analysis Centre of Canada (FinTRAC) for Finance Minister Bill Morneau included an audit of 172 real estate companies, brokers and developers in 2017-18.

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