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in si de ha lto n. co m O ak vi lle B ea ve r | T hu rs da y, Ju ne 6, 20 19 | 16 Exclusive membership meets all-inclusive living. At V!VA, you are more than just a resident - you're a Community Member. And as a member of Oakville's newest retirement lifestyle, you belong to a select group who shares a passion for active living and the finer things in life, like sophisticated design, premium amenities (including our GOLFZONTM Golf Simulator), healthy dining, engaging activities and unparalleled service. Artist rendering* of V!VA Oakville's Perks! Café. HAPPY HOUR MOVE-IN HURRAH! PIPES & TAPS PUB | JUNE 21, 11:30AM - 2:00PM 101 - 231 OAK PARK BLVD., OAKVILLE Move-in Day is around the corner, so we're celebrating with a complimentary lunch! Limited seating, so please RSVP with Megan at (905) 542-9000 or email oakville@vivalife.ca. Model Suite: 5575 Bonnie St., Mississauga Future Address: 1 Sixteen Mile Dr., Oakville Reserve today | Move-in Summer 2019 (905) 542-9000 vivalife.ca *Subject to change E.O. & E. Round of golf meets round of drinks. 40%Off 40% off any order of $1000 or more. 30% off any order of $700 or more. On any complete Closet, Garage or Home Office. Take an additional 15% off on any complete system order. Not valid with any other offer. Free installation with any complete unit order of $500 or more.With incoming order, at time of purchase only. Expires on 06/30/2019. Plus Free InstallatIon suMMer sPeCIal Imagine your home, totally organized! Custom Closets, Garage Cabinets, Home Offices, Pantries, Laundries, and Hobby Rooms Call for a free in home design consultation and estimate www.closetsbydesign.ca 844-612-9943 OB 2013 © All Rights Reserved. Closets by Design, Inc. Follow us PLUS TAKE AN EXTRA 15%Off SPECIAL FINANCING FOR 12 MONTHS! With approved credit. Call or ask your Designer for details. Not available in all areas. Money laundering af- fects us all, so it is impor-fects us all, so it is impor-f tant to understand it and how it harms our lives. According to the 2019 International Narcotics Control Strategy Report, Canada is one of the world's major money- laundering areas. Trans- national organized crime groups are laundering money from "drug traf- ficking, fraud, corruption,ficking, fraud, corruption,f counterfeiting and piracy, and tobacco smuggling." The challenge for these criminals is to make their illegal gains seem legiti- mate. They need to con- vert dirty money into clean money in order to spend it without drawing the attention of law en- forcement. Often this isforcement. Often this isf done through the gam- bling, real estate and lux- ury car sectors. British Columbia has been seen as the money- laundering capital of Can- ada. However, according to the Combatting Money Laundering in B.C. Real Estate Report, the magni- tude of the problem spreads beyond B.C. The report estimated that $47 billion was laun- dered in Canada last year, and it cites Ontario as the second-worst province for money laundering. One money-laundering strategy is to use the pro- ceeds of crime to purchase expensive real estate. On- tario's real estate associa- tion has recommended our province require all real estate identify the beneficial owner. Currently, real estate can be owned by a trust or corporation, which can be used to disguise the true owner. B.C. has already announced its plans to create a registry that will identify all owners of real estate, regardless of how the property is registered. Crime affects us all. Successful money laun- dering leads to more crime, and in the case of real estate, soaring prices. Money laundering is a serious problem in Cana- da, and it is to everyone's advantage to implement ways to decrease the moti- vation for crime. Peter Watson, of Peter Watson Investments MBA, CFP, RFP, CIM, FCSI, offers a weekly financial planning column, Dollars & Sense. He can be con- tacted through www.pe- terwatsoninvestment- s.com. CANADA'S MONEY-LAUNDERING PROBLEM OPINION HERE'S HOW IT HARMS OUR LIVES, WRITES PETER WATSON PETER WATSON Column