# Doors wide open: corruption and real estate in four key markets URL: https://www.transparency.org/en/publications/doors-wide-open-corruption-and-real-estate-in-four-key-markets Type: Publication or report Published: 2017-03-29 Updated: 2020-04-03 --- 29 March 2017 The real estate market has long provided a way for individuals to secretly launder or invest stolen money and other illicitly gained funds. Not only do expensive apartments in New York, London or Paris raise the social status of their owners and enhance their luxurious lifestyles, but they are also an easy and convenient place to hide hundreds of millions of dollars from criminal investigators, tax authorities or others tracking criminal behaviour and the proceeds of crime. In many such cases, property is purchased through anonymous shell companies or trusts without undergoing proper due diligence by the professionals involved in the deal. The ease with which such anonymous companies or trusts can acquire property and launder money is directly related to the insufficient rules and enforcement practices in attractive markets. The countries analysed in this study – Australia, Canada, the United Kingdom and the United States – have committed in different forums, such as through the FATF and the Group of 20 (G20), to do more to prevent and curb money laundering and terrorist-financing, including by regulating gatekeepers, such as real estate agents, lawyers and accountants, who may act as facilitators in transactions that can enable money laundering. This report identifies the main problems related to real estate and money laundering in these four countries and finds that, despite international commitments, current rules and practices are inadequate to mitigate the risks and detect money laundering in the real estate sector. ### Related publications ## [Regional Assessment of Integrity in Political Finance in South Asia, Southeast Asia and East Asia](https://www.transparency.org/en/publications/integrity-political-finance-asia) Publication • 03 September 2026 This report reviews systems across 17 countries to identify the areas of political finance most in need of reform. ## [Annual Report 2025](https://www.transparency.org/en/publications/annual-report-2025) Publication • 17 July 2026 In 2025, Transparency International pursued its mission to stop corruption and promote transparency, accountability and integrity at all levels and across all sectors of society. ## [Whistleblowing Authorities in Europe: Roles, challenges and lessons learned](https://www.transparency.org/en/publications/whistleblowing-authorities-in-europe-roles-challenges-and-lessons-learned) Publication • 19 June 2026 This report examines the institutional design, mandates and functioning of national whistleblowing authorities across Europe. ## [Global Corruption Barometer 2003](https://www.transparency.org/en/publications/gcb-2003) Publication • 03 July 2003 ## Priorities - [Dirty money](https://www.transparency.org/en/our-priorities/dirty-money) ## Countries - [Australia](https://www.transparency.org/en/countries/australia) - [Canada](https://www.transparency.org/en/countries/canada) - [United Kingdom](https://www.transparency.org/en/countries/united-kingdom) - [United States](https://www.transparency.org/en/countries/united-states) ![Image of a door, text: Doors Wide Open, Corruption and Real Estate in Four Key Markets](https://images.transparencycdn.org/images/2017_DoorsWideOpen_EN_116.jpg?auto=compress&fit=crop&fm=webp&w=1200) [Download](https://images.transparencycdn.org/images/2017_DoorsWideOpen_EN.pdf)