CANADA'S MASSIVE MONEY LAUNDERING PROBLEM

   Ottawa’s budget earmarked about $200 million over the next five years to address Canada’s massive money laundering problem.
   This was promising news, but follows years of neglect resulting in the creation of gigantic laundering networks in Canada, the growth of criminal organizations, increased drug trafficking, housing unaffordability, and few prosecutions.
   The budget came on the heels of a critical report by the U.S. State Department in March stating Canada is a global problem and vulnerable to major laundering operations, along with nations such as Afghanistan, the British Virgin Islands, China, Macau and Colombia.