But in Canada, the lack of transparency attracts organized crime from around the world.
“Canada still has the welcome mat out for dirty money,” said James Cohen, the executive director of Transparency International Canada. “We’re still asleep at the wheel on this issue. There might be a mentality that this is an issue that resides on the other side of the Rocky Mountains, but it’s a pan-Canadian issue.
“It’s time for Ontario to implement beneficial ownership registry of land.”
Over the last few months, the staggering scale of money laundering in the Toronto and Vancouver real estate markets has come into focus.
Last week, a pair of reports commissioned by the British Columbian government used uncharacteristically frank language to condemn government complacency.
“It is both an embarrassment and a threat to a society that adheres to the rule of law,