Anti-money-laundering experts call for public beneficial land ownership registry in Ontario

Anti-money-laundering experts are calling on the Ontario government to create a land ownership transparency registry to crack down on criminals who hide illicit funds in real estate.

Such public registries force the disclosure of the ultimate, or beneficial, owners of properties, including those held by corporations, partners and trustees. Advocates say the registries disrupt the flow of dirty money while also helping to stem rising housing costs.

“Ontario really needs to do this,” said Sasha Caldera, campaign director for the End Snow-Washing Coalition, which advocates for beneficial ownership registries. “The canary’s already in the coal mine for Ontario and it’s been chirping louder and louder.”