Three-year report reveals vast scale of money laundering in British Columbia

Inquiry shows cash flowing in from Asian investors has not resulted in house prices tripling over two decades

British Columbia is a magnet for money laundering, and Canada’s lax regulations are allowing billions of dollars to illegally flow into the province, say the findings of a three-year public inquiry.

The inquiry found that such concentration of activity has had an extraordinary impact on the BC economy – but that its influence on the housing market – the original motive for the investigation – has been overstated.

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