zlacker

>>eswat+(OP)
To maybe offer a different perspective: I think the Canadian mortgages linked to Chinese accounts will likely all be paid. What may be happening is that there is a lot of underground chinese financial activity that is not recorded in Canada and part of this 'network' is utilized to get money out of china.

>>Sunlig+bn
It's still fraud

>>silent+vn
You can label it however you want, if both the lender and borrower are willing participants, it will be difficult to prevent this from happening.

Like mentioned in the article, often times the material is very obviously suspicious and banks probably know this and still turn a blind eye to it because these borrowers are low risk and much less sensitive to the high/rising interest rates of today...

>>jabban+0p
> You can label it however you want, if both the lender and borrower are willing participants, it will be difficult to prevent this from happening

These aren't purely private transactions. If HSBC Canada fails, Ottawa is on the hook. The defrauded party here is the public. (And possibly the bank's lenders and shareholders.)