- »Most Canadians See Money Laundering as Problematic
Most Canadians See Money Laundering as Problematic
Canadians know that money laundering is a problem. Whether it happens through casinos, as has been the case in places like British Columbia, or through real estate and other networks, Canadians know it is happening.
According to a new survey, a vast majority believe money laundering is a problem in their respective provinces, and even more people believe that Canada should address it on a national level.
Angus Reid Institute Study
The research was conducted by the Angus Reid Institute, a national nonprofit organization established in Canada in 2014.
The goal of the public opinion research is to “enhance and encourage better understanding of issues and trends affecting economic, social, governance, philanthropy, public administration, domestic and foreign policy in Canada and its world.”
A Reid family endowment funds much of the research, as well as cooperation from other nonprofit organizations in Canada.
This particular study regarding money laundering surveyed 1,524 Canadian adults who belong to the Angus Reid forum. The study was conducted online from July 30 to August 6, 2019. The margin of error is plus/minus 2.5%.
General Money Laundering Opinions
The entire group was first asked if they feel money laundering is an issue in their respective provinces.
- 112 people in ATL = 35% no, 44% yes
- 415 people in QC = 8% no, 83% yes
- 449 people in ON = 11% no, 72% yes
- 104 people in MB = 25% no, 50% yes
- 98 people in SK = 29% no, 54% yes
- 151 people in AB = 15% no, 73% yes
- 195 people in BC = 4% no, 90% yes
They then broke this down by province to gauge the level of concern about money laundering.
- ATL = 44% problematic, 35% not a problem, 21% not sure
- QC = 83% problematic, 8% not a problem, 9% not sure
- ON = 72% problematic, 11% not a problem, 17% not sure
- MB = 50% problematic, 25% not a problem, 25% not sure
- SK = 54% problematic, 29% not a problem, 17% not sure
- AB = 73% problematic, 15% not a problem, 13% not sure
- BC = 90% problematic, 4% not a problem, 6% not sure
Next, based on their own impressions: Is the problem getting better or worse in your province?
- ATL = 22% worse, 10% better, 67% not sure
- QC = 36% worse, 23% better, 41% not sure
- ON = 39% worse, 9% better, 52% not sure
- MB = 33% worse, 11% better, 56% not sure
- SK = 33% worse, 5% better, 62% not sure
- AB = 44% worse, 4% better, 52% not sure
- BC = 56% worse, 12% better, 32% not sure
The next question was: How much of a problem do you feel this issue is in Canada?
- 24% a huge problem
- 56% a problem but one among many others
- 7% not really a problem
- 1% not a problem at all
- 11% not sure
Of the people who said money laundering was a huge problem, this is the breakdown by province, the majority (41%) were from British Columbia, where the topic receives the most attention due to recent scandals and investigations.
The next question focused on the problem and whether it is getting better or worse. This was broken down by people’s awareness of the issue.
- Following the issue = 65% getting worse, 16% getting better, 19% not sure
- Seeing some media coverage = 46% getting worse, 15% getting better, 39% not sure
- Just scanning = 32% getting worse, 9% getting better, 59% not sure
- Hearing nothing = 14% getting worse, 7% getting better, 80% not sure
Money Laundering Prevention
On the federal level, were respondents satisfied with the work being done to prevent money laundering?
- 3% very satisfied
- 19% satisfied
- 24% dissatisfied
- 24% very dissatisfied
- 30% not sure
This was also broken down by province regarding work done by those provincial governments.
- ATL = 30% satisfied, 21% not satisfied
- QC = 38% satisfied, 35% not satisfied
- ON = 25% satisfied, 36% not satisfied
- MB = 31% satisfied, 24% not satisfied
- SK = 40% satisfied, 29% not satisfied
- AB = 26% satisfied, 39% not satisfied
- BC = 31% satisfied, 50% not satisfied
Since much money laundering is done by paying for things with large amounts of cash, some support the idea of passing a law to prohibit any purchases certain amounts of cash. Do people support this? They were surveyed by the type of items purchased.
- Cars, trucks, boats = 58% support, 33% oppose, 9% not sure
- Residential real estate = 71% support, 22% oppose, 8% not sure
- Commercial real estate = 72% support, 20% oppose, 8% not sure
- Luxury goods (jewelry, etc.) = 61% support, 30% oppose, 9% not sure
- Casino purchases = 69% support, 22% oppose, 9% not sure
- Anything over $10,000 = 63% support, 27% oppose, 9% not sure
Finally, the survey raised the issue of restricting certain values of dollar bills. It seems that idea is not popular, as 77% of Canadians want to keep $100 bills and 91% want their $50 bills.