"Canada has become a 'pawn' for international money launderers who exploit the country’s weak laws that allow hidden ownership of real estate and other assets, a new report says.

In the report from the C.D. Howe Institute, author Denis Meunier — a former deputy director with Canada’s anti-money laundering agency — writes that official estimates of the amount of money laundered in Canada each year range from $5 billion to $100 billion.

Criminals involved in drug trafficking, smuggling, tax evasion and corruption have parked their dirty money in Canadian real estate and businesses, the report says, because they do not have to be identified as owners of shell companies and legal trusts." ~ Sam Cooper - Global News

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