A flood of dirty money is pushing up house prices in the Canadian province of British Columbia, the government says
TORONTO—Money laundering pushed house prices up roughly 5% in the Canadian province of British Columbia last year, according to government reports, highlighting the influence of a growing tide of dirty money on one of North America’s hottest real-estate markets and Canada’s economy.
Roughly 5 billion Canadian dollars worth of illicit funds flowed through the real-estate market last year, including in Canada’s third-largest city, Vancouver, with another estimated C$2.4 billion moving through the province’s casinos,...
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