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Canada has had a reputation as an open, transparent, trustworthy society, which operates on the principles of “peace, order and good government.”

But when it comes to stopping billions of dollars of illicit money funnelling into Canadian real estate, our elected officials don’t deserve their status.

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The governments of Canada and B.C. have consistently failed to protectCanadians from unsavoury, tax-evading speculators in real estate, who have made Metro Vancouver and Toronto housing unaffordable.

Even though most Canadians remain unaware of the complex world of dark money, Vancouver-based financial researcher Adam Ross makes clear Metro Vancouver and Toronto have become hot spots for shady global real-estate deals.

Because of lax rules in Canada and B.C. it is easy for rich investors in real estate to hire accountants and lawyers to hide their identities.

Offshore speculators can therefore avoid detection by their own governments, including the rising giant of China. And they can avoid or evade taxes in Canada.