Legal Brief: Canada Tackles Beneficial Ownership, Money Laundering in Real Estate

By Laura Cruz, Legal Editor

Editor's Note: In the latest installment of our series, the legal team covers illicit finance in Canadian real estate and the push for publicly available beneficial-ownership information. Transparency International, an anti-corruption advocacy group, reported in December 2020 that the availability of real estate ownership data varies widely across Canada, and that British Columbia now leads the country in making such information accessible after adopting the Land Owner Transparency Act. The law, which came into force in November after a government panel estimated in a report that $5 billion in suspicious funds flowed into British Columbia's real estate market in...