Bring forward a proposal to prevent mortgage fraud.

What success looks like

Mortgage fraud is reduced.

Government's narrative on progress

Buying a home is often the single largest investment Canadian families will make in their lifetime. To protect this investment and help keep the real estate market accessible and fair, Budget 2019 includes measures to tackle tax non-compliance and money laundering in the housing market. These include: • Creating four new dedicated real estate audit teams at the Canada Revenue Agency to monitor transactions in the real estate sector. These teams will focus on high-risk areas, notably in British Columbia and Ontario. • Strengthening the enforcement framework by improving monitoring of private sector partners and collaborating with government leads in order to deter financial crime in real estate, including mortgage fraud and money laundering. • Exploring opportunities to improve data sharing on real estate purchases between the federal government and British Columbia to inform enforcement efforts on tax compliance and anti-money laundering. As part of this initiative, the government will provide up to $1 million to Statistics Canada starting in 2019-20 to conduct a comprehensive federal data needs assessment to further streamline data sharing and monitoring of purchases of Canadian real estate.

Note: this is the government's own description, not an independent assessment.