News

As Canadian officials move forward with plans to better scrutinize the country's property market, they'll likely run into two questions without easy answers: how will dirty money be identified and who will do it? The government last month allocated CN$500,000 to analyze whether foreigners are using illicit funds to purchase Canadian real estate-a move that followed an announcement in March that the Financial Transactions and Reports Analysis Centre had identified 80 British Columbia-based property brokerages with "significant" or "very significant" compliance deficiencies. The steps come amid widespread media reports that Chinese nationals and other immigrants may be using questionable funds...