British Columbia issues new company ownership rules to tackle money laundering

Pedro Gonçalves
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British Columbia issues new company ownership rules to tackle money laundering

British Columbia is taking the next step in its fight against money laundering and tax evasion by requiring private BC businesses to keep transparency records of beneficial owners. "Hidden ownership is distorting our economy and driving up our real estate market," said Carole James, minister of Finance. "Right now, businesses operating in our province can hide their ownership behind numbered companies and offshore and domestic trusts. This is hurting communities throughout our province tha...

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