Some questions may seem silly, but in general I’m still in support of the Fintrac declaration… Most realtors or people know by now… Canada had been a Cash Haven for money launderers & foreigners… Canadian Real estate was a favourite amongst foreigners to park their money, or to launder money… Look how much home prices shot up last 10-15 years, and why Fintrac was set up…. Without Fintrac, buying real estate is like going to casinos in the past, where no one questioned where you got money from… And no I’m not associated with Fintrac, but it’s still the right thing to do…
They have been around since I can remember, they just didn't do anything. Last year they fined TD, RBC and BMO millions for ignoring money laundering. Now their moving down the pole a step
We are doomed. To me these are mind blowing questions, most off them have me doubting that government knows what are they doing. We will be hand to hand with North Korea pretty soon at this pace.
As an agent you are now working on behalf of the government. You have no legal protection and you will be held fully liable for any mistakes or fallout from any lost bank information or lies of your client. This is a bad bad road. If you don't have a government paycheck and liability insurance from them for acting on their behalf I would watch my step. Who do you think the government will throw under the bus? Do you think the government will pay your legal bills when this goes bad for you?
Gee I use the same real estate agent all the time and i consider him a friend. Guess I'm getting a few points.....I'd like to have money to launder, but unfortunately I work for a living and already give almost half to the government.
This is absolutely crazy!! That also means you not only work with the agent that you trust but also an agent who trusts you even more. In question 17, if an agent thinks something is unusual about you, its 4 points, another 2 for bying close to the airport and 5 for being from any of the countries the agent thinks is high risk. You mentioned Iran, could it also be china, India, Pakistan, Israel, anywhere in the Middle East? You get an eccentric or unusual agent, and you are being investigated. Even more reasons to use friends and family?
As these forms get collected, they will be digitized and stored away. Then some AI program is going to come along and scour that info and use it to answer queries. This truly is a case where the lawyers should be filling out the form. If the form should actually exist at all. Real Estate Agents are salesman that deal face to face with the clients, is it really a good idea to have a face to face meeting with a criminal and then have the criminal know that you have just reported him for his criminal activity? What level of bureaucracy thinks this stupidity up?
You see those North Korean Jihadists could just come waltzing in a put a halt to the Trudeau woke fest. Not like we have an army we could ever fight them off with (CBC article: armed force’s combat readiness growing worse)
Agreed. Government keeps adding new housing forms and taxes to buy votes and don't coordinate with each other (Province, Federal, Municipal). For people happy about this and evening pushing Government to add even more, how's that working out for you is my question. I mean is there an abundance of affordable housing thanks to these forms / taxes that I don't know about.
A Politically Exposed Person can be as basic a parent who objected to transgender bathrooms at a parent-teacher conference and made the news or went viral on social media. Basically anyone singled out for government persecution.
Your just upset because this will scare away potential business. Its well known that Canadian RE is the number 1 destination of dirty money around the world.
You are misleading your viewers. The Real Estate agent is required to fill the form but the form is never sent to the government. It is simply filed at the Brokerage office in the transaction file.
For when the Gov wants access to the info. So it's really a big waste of time and energy. Unless of course the client scores a 10 or higher, then its my job to report them.
@@SteveKarrasch right.. trust me privacy is a very self acclaimed badge, that is there, till you uncover it was not. But sending all data to government to find the anomaly in the system is key to find the bad actors.
Only government bureaucrats could come up with such questions.
Imagine on how much money they got paid? Free property/ properties?
Perhaps MONEY LAUNDERING?
CALL IN THE M.I.B. FOR A GESTAPO/ SS INTERROGATION??
We let the CCP buy most of Vancouver, the Canadian gov should have known what was going on decades ago.
CCP damn love Vancouver😅 I really don't know why Canadian gov didn't do anything.
Some questions may seem silly, but in general I’m still in support of the Fintrac declaration… Most realtors or people know by now… Canada had been a Cash Haven for money launderers & foreigners… Canadian Real estate was a favourite amongst foreigners to park their money, or to launder money… Look how much home prices shot up last 10-15 years, and why Fintrac was set up…. Without Fintrac, buying real estate is like going to casinos in the past, where no one questioned where you got money from… And no I’m not associated with Fintrac, but it’s still the right thing to do…
FINTRAC has been in place my whole career, why haven't they caught any money launderers? and still home prices rise....
They have been around since I can remember, they just didn't do anything.
Last year they fined TD, RBC and BMO millions for ignoring money laundering.
Now their moving down the pole a step
I guess the days of counting bags of cash in the basement that someone got from "aunt Mary" for a downpayment are over.
Lol
She's your aunt too?
Totally communisim
Sure seems like some North Korean surveillance state stuff.
We have become the money laundering capital of the world!!
Sometimes desperate times call for desperate measures.
Sell your freedom to save a buck.
We are doomed. To me these are mind blowing questions, most off them have me doubting that government knows what are they doing. We will be hand to hand with North Korea pretty soon at this pace.
Holy crap, better not tick of your realtor, lol! Are your clients allowed to see what you submitted?
Never even considered that! I wonder.
I wonder how much tax payer money they wasted on coming up with this one? Just more control and it is not going to prevent anything!
I bet they don't even know what it costs.
As an agent you are now working on behalf of the government. You have no legal protection and you will be held fully liable for any mistakes or fallout from any lost bank information or lies of your client. This is a bad bad road. If you don't have a government paycheck and liability insurance from them for acting on their behalf I would watch my step. Who do you think the government will throw under the bus? Do you think the government will pay your legal bills when this goes bad for you?
I'm looking into "under buss insurance" as we speak.
Gee I use the same real estate agent all the time and i consider him a friend. Guess I'm getting a few points.....I'd like to have money to launder, but unfortunately I work for a living and already give almost half to the government.
This is absolutely crazy!! That also means you not only work with the agent that you trust but also an agent who trusts you even more. In question 17, if an agent thinks something is unusual about you, its 4 points, another 2 for bying close to the airport and 5 for being from any of the countries the agent thinks is high risk. You mentioned Iran, could it also be china, India, Pakistan, Israel, anywhere in the Middle East? You get an eccentric or unusual agent, and you are being investigated. Even more reasons to use friends and family?
Regarding high risk coutries you forgot to mention "Canada"
As these forms get collected, they will be digitized and stored away. Then some AI program is going to come along and scour that info and use it to answer queries. This truly is a case where the lawyers should be filling out the form. If the form should actually exist at all. Real Estate Agents are salesman that deal face to face with the clients, is it really a good idea to have a face to face meeting with a criminal and then have the criminal know that you have just reported him for his criminal activity? What level of bureaucracy thinks this stupidity up?
Goverment is penny pinching with this
You see those North Korean Jihadists could just come waltzing in a put a halt to the Trudeau woke fest. Not like we have an army we could ever fight them off with (CBC article: armed force’s combat readiness growing worse)
Agreed. Government keeps adding new housing forms and taxes to buy votes and don't coordinate with each other (Province, Federal, Municipal). For people happy about this and evening pushing Government to add even more, how's that working out for you is my question. I mean is there an abundance of affordable housing thanks to these forms / taxes that I don't know about.
Diversity is our strength!
Great Video.
What about the Lawyers in the transaction are they supposed to fill this form ?
Lawyers are exempt from Fintrac. Nice hey?
@@SteveKarrasch yes is a bit intrusive.
The question to be answered are so vague that it can trigger a screening from just wearing a red hat .😅
Real Estate Agent/Financial Detective
Seems reasonable...
A Politically Exposed Person can be as basic a parent who objected to transgender bathrooms at a parent-teacher conference and made the news or went viral on social media. Basically anyone singled out for government persecution.
Just ask them if they are terrorists or money launderers 😅.
Support comment 🎉
I do.
Your just upset because this will scare away potential business.
Its well known that Canadian RE is the number 1 destination of dirty money around the world.
Surrender your privacy and rights in the name of anti-money laundering, climate change... you know, what ever keeps us "safe".
You are misleading your viewers. The Real Estate agent is required to fill the form but the form is never sent to the government. It is simply filed at the Brokerage office in the transaction file.
For when the Gov wants access to the info. So it's really a big waste of time and energy. Unless of course the client scores a 10 or higher, then its my job to report them.
Double agent Steve
🕵️♂️
This is good and brings in transparency as many might be doing shady transactions and bubble up the price in coordination.
Seems like lots of people don't mind giving up their privacy to stop "shady dealings of others". Until they are the other of course.
@@SteveKarrasch right.. trust me privacy is a very self acclaimed badge, that is there, till you uncover it was not. But sending all data to government to find the anomaly in the system is key to find the bad actors.
Kim Jung Un... is that you?
From now on I will call you Detective Karrasch 🔍👮
We are the boys in blue.
I've seen that form, only you can make it an interesting topic tho. Can't wait til the Ravi episode drops on Saturday AM.