Money Laundering in BC Raised Home Prices by 5 Per Cent, Study Finds
An independent study found that $47 billion was laundered in Canada in 2018, with $7.4 billion in BC alone. It also estimated that $5 billion was laundered through the BC real estate market, and that this raised the cost of buying a house by at least 5 per cent. The study was conducted by an expert panel led by former BC deputy attorney general Maureen Maloney.