As we think about these issues, it’s important to appreciate that money laundering costs civil society in many ways including the support and prevalence of criminal organizations/activities, lost tax revenues, as well as elevated property prices causing regular households to spend more on housing and sign on to years of extra debt payments (and reduced saving ability) to put a roof overhead. Who remembers when gambling was recognized as socially damaging and hence illegal in most jurisdictions?
BC Attorney General David Eby speaking on money laundering at the North Cove Advisors Vancouver Housing Conference, April 23, 2019. Here is a direct video link.
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