Sasha Caldera
Campaign Director, Beneficial Ownership Project, IMPACT
Phone: 647-861-6425
E-mail: scaldera@impacttransform.org
Canada has a problem.
Secret companies are being used to launder money into the Canadian economy. It’s called snow-washing, and it contributes to soaring real estate prices, acting as a haven for criminals to launder their dirty money through secret companies, casinos, and luxury goods.
Because Canada has a strong economy paired with lax rules for corporate transparency, our country is the perfect destination for criminals and tax evaders to stash their cash.
Canada’s federal government, along with provinces and territories, can join other countries working to fight snow-washing by creating world-class, publicly accessible registries of beneficial owners for companies and real property. Because criminals exploit legal loopholes that allow for secrecy, publicly accessible registries deter those who aim to launder money and avoid taxes anonymously.
Let’s make sure Canada is no longer a destination for snow-washing.
