Real estate is the ‘perfect avenue to launder money,’ says Field.
in Domestic Policy, Issues, Inside Policy, Latest News, Podcasts, Peter Copeland
In this episode, Peter Copeland, deputy director of the Macdonald-Laurier Institute’s Domestic Policy Program, speaks with Cameron Field, a Toronto Police veteran and financial crimes expert.
Field explains that there are three types of mortgage fraud in Canada. First, there’s fraud for shelter, whereby some homebuyers commit fraud to obtain a mortgage. Next, there’s fraud for profit, in which actors in the mortgage industry act fraudulently in order to complete a sale. Finally, there’s fraud committed by organized crime, which sees mortgages used as a way to launder money. Field describes how these types of fraud work, and their impact on the Canadian housing market and public safety.
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Peter Copeland 