Money laundering in Canada is a problem described by professionals in 2019 as a "national crisis," and which has attracted international attention.
[citation needed] Canada is uniquely targeted due to a lack of beneficial ownership, meaning the true owner of property is never collected by authorities.
The depreciation is a relatively small price to obtain clean money that can be deposited into a bank account with a clear source of funds.
[citation needed] Snow washing is the process of routing illegal activity through Canada to capitalize on its reputation as a “boring” and safe place.
[5] It involves taking illicit cash earned through crime to a casino (often a VIP room), and gambling some of the proceeds.