Globe&Mail investigation reveals "How shady lenders with drug-crime connections are using B.C. real estate to clean dirty money!". Read the enclosed article published on Feb 17th, 2018, and answer the following questions: - Management
Globe&Mail investigation reveals "How shady lenders with drug-crime connections are using B.C. real estate to clean dirty money!". Read the enclosed article published on Feb 17th, 2018, and answer the following questions:
What is the problem statement? draft a statement within the range of 80-160 words.
Who are the major stakeholders of this practice? draw a diagram.
If you are a fraud analyst, and you are required to define the scope of your investigation, Draw a diagram(s) to reflect your scope of analysis?
Draft 5-10 business rules that would be used to solve such problem?
Upload your answers in one document as PDF file. You do not need to use MS Visio to draw your diagrams, I am happy to see your handwritten drawings, however, they must be clean, neat and well written. Use your mobile camera to take a shot and include it in your document.
Here is the article:
PressReader: The Globe and Mail Metro (Ontario Edition), Saturday, February 17, BC Housing Crisis.pdf
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Kathy Tomlinson and Xiao Xu report
A 1 4 - 1 5
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Mass shootings force
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A 8
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Patrick Brown enters the
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HOW SHADY LENDERS CONNECTED TO DRUG CRIME ARE USING
VANCOUVER’S REAL ESTATE MARKET TO CLEAN THEIR CASH,
PROP UP INFLATED HOUSE PRICES AND MAKE A TIDY PROFIT
PROCEEDS OF CRIME
McArthur case highlights gaps in
missing-persons registry TO RO N TO, A 1 6
Brown proves he’s willing to hurt his party to help himself, Adam Radwanski writes A 3
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The Globe and Mail Metro (Ontario Edition), Saturday, February 17, 2018
A 1 4 G T H E G LO B E A N D M A I L | S AT U R DAY , F E B R U A RY 1 7 , 2 0 1 8
I
t was dirty money – stuffed in
the trunk of their Mercedes
and behind a seat in their
Range Rover. The rest was squir-
relled away in a safe and a night
table, at a condo they were using.
Small bills – $660,970 in all –
covered with traces of deadly fen-
tanyl and other street drugs. Po-
lice seized the cash in the spring
of 2016, when they arrested Ying
Zhang, Zhi Guang Zhang and Wei
Zhang, after putting them under
surveillance and watching them
conduct business in parking lots
in and around Vancouver.
They weren’t charged with any
crimes, despite the evidence that
they were peddling opioids that
kill people. It’s not unusual in B.C.
for police to forgo pursuing
charges when they find dealers in
possession of drug money, but
not holding actual drugs. The
Zhangs did lose their cash,
though, for good: A judge ordered
it forfeited to the provincial
government as “proceeds of
crime.”
It’s a big headache for any drug
trafficker: trying to protect illicit
profits from being stolen or con-
fiscated. They can’t walk into a
bank with bags of cash, because
staff would be required to report
that to authorities as suspicious.
And so the money piles up. Until
they find a way to launder it.
A Globe and Mail investigation
has discovered that the Zhangs
and other local residents associat-
ed with drug-related crime are
effectively parking their riches in
Vancouver-area real estate, where
it is rendered clean and secure,
without actually owning any of
the properties. They call them-
selves private lenders – issuing
millions of dollars in registered
mortgages and short-term loans.
Just as a bank does, they grant a
loan, then register a land-title
charge against the borrower’s real
estate, equal to the value of the
debt, plus interest. The charge,
which gives them a stake in the
real estate, remains in place until
the debt is cleared. If the property
is sold, the loan gets paid out
from the sale proceeds, in clean
money, all seemingly legal.
Except these financiers are un-
regulated and unlicensed and the
loans they grant are in cash,
which is likely dirty money
derived from drug deals or other
crimes. The Zhangs charge inter-
est rates of up to 39.6 per cent,
with some private lenders
demanding up to 120 per cent.
Court records show that one of
the Zhangs’ associates is among
those allegedly charging that
extortionate level of interest,
which is double the maximum
legal rate.
By combing through hundreds
of lawsuits, foreclosures and
property records, The Globe iden-
tified 17 such lenders, who have
collectively claimed a $47-million
stake, plus interest, in 45 Vancou-
ver-area properties in recent
years. The three Zhangs alone laid
claim to at least $20.7-million of
that, individually or through
numbered companies.
As dramatic as those numbers
may appear, they represent just a
small sample of loans and mort-
gages that such private lenders
have bankrolled.
Their target customers are
wealthy Chinese newcomers or
tourists – and their grown chil-
dren – who’ve bought property in
Canada and who want to use it as
leverage to borrow large amounts
of cash, as they might with a
home-equity line of credit, for
gambling or other extravagances.
Some borrowers appear to use
the loans to pay down other
debts.
Typically, their wealth is in Chi-
na – money that can’t easily be
wired to B.C., because the Chinese
government forbids its citizens
from taking more than
US$50,000 per year abroad. Most
of the homeowners already have
at least one mortgage with a Ca-
nadian bank, and may have
maxed out their legitimate bor-
rowing power in this country.
Enter the private lenders, offer-
ing quick, easy money – by word
of mouth – through social and
business circles.
One of the Zhangs’ customers
was a real estate developer, based
in China, who has a gambling
habit. Jia Gui Gao borrowed tens
of millions of dollars – more than
his B.C. properties were worth –
from several private lenders.
Then he simply walked away
from $58-million worth of empty
Vancouver-area man-
sions and vacant land he
owned, leaving it all to
his creditors.
When one of the
properties sold for $8.7-
million in a foreclosure
last year, mortgage hol-
ders and suspected drug
dealers Ying Zhang and
Wei Zhang received
court-approved payouts
totalling $2.18-million.
That money consti-
tutes another source of
credit churning through
the real estate market,
that financial regulators
aren’t monitoring. The
private lending is also
yet another scheme that
may well be inflating
sale prices, in a city
where real estate specu-
lation has already
pushed prices well
beyond the reach of
middle-class citizens
and has ignited a nation-
al debate and a raft of re-
sponses from policy-
makers.
Many of the proper-
ties The Globe looked at
sold, after the private
loans were taken out, for
much more than the
owners had paid for
them. Each time a real-
estate investor cashes
out like that, it sets the
market price higher for
all houses in the neigh-
bourhood.
“The borrowers are
using their homes as collateral, so
I would think there is an incentive
to sell your house at a higher price
later, speculating on the hot real
estate market, to cover the costs
incurred to pay off extremely
high interest payments,” said
Denis Meunier, former deputy
director of FinTRAC, the federal
agency that analyzes money
laundering.
Richmond lawyer David Chen,
who has represented some of the
borrowers, agrees. “It could be
one of the reasons we have such a
jacked-up real estate market in
Vancouver,” he said. “If today our
regulators had a way of managing
and minimizing these transac-
tions … you would have the mon-
ey going somewhere else, not
secured through real estate.”
Beyond the Zhangs, such pri-
vate moneylenders in B.C. include
Xun Chuang, who has a record of
drug crimes; Vinh-Loc Chung,
convicted for carrying a restricted
firearm; Xiao Ju Guan, found stor-
ing ecstasy and other drugs; Ye Jin
Li, convicted on drug charges;
and Kwok Chung Tam, a long-
time Vancouver lender who’s
been convicted of drug crimes.
Mr. Guan also ran a business wir-
ing cash overseas.
The $47-million in private
lending unearthed by The Globe
is a just a fraction of the question-
able lending: Only debts in dis-
pute or serious default end up in
court, generating a paper trail.
T H E F E N TA N Y L CO N N EC T I O N
Most of the loans get paid back
privately, and no one is the wiser.
Once a loan is secured, with real
estate as collateral, paying it back,
under the radar, is simple. One
long-time customer told The
Globe that he and most other bor-
rowers make their payments via
electronic transfer from their
bank accounts in China to
accounts that the lenders hold,
also in China.
How shady lenders with drug-crime
connections are using B.C. real estate
to clean dirty money
In 2015, suspected money launderers and drug
dealers were involved in multimillion-dollar loans
and mortgages to the owner of these five
Vancouver properties. By 2016, all the properties
were sold, with debts to the lenders exceeding
the sale prices.
A Globe and Mail investigation identified 17 unregulated, cash-only lenders, who collectively claimed a $47-million stake in Vancouver-area properties. PHOTOS: BEN NELMS/THE GLOBE AND MAIL
Through millions of dollars in private lending and mortgages, people
connected to the fentanyl trade are parking their illicit gains in the
Vancouver-area property market – and using alleged threats, extortion
and deception against homeowners to make sure they get their money
back. Kathy Tomlinson and Xiao Xu investigate
| N E W S
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The Globe and Mail Metro (Ontario Edition), Saturday, February 17, 2018
S AT U R DAY , F E B R U A RY 1 7 , 2 0 1 8 | T H E G LO B E A N D M A I L G A 1 5
“I can pay the money online on
my phone,” said the customer,
whom The Globe agreed not to
name, because he fears repercus-
sions. He added that the lenders
work in tandem with people who
operate underground banks in
China. “We all use our money in
China to pay back … We don’t
have money here.”
Those offshore payments are
thus delivered to the lenders as
clean money – beyond the reach
of Canadian law enforcement.
The dubious transactions
don’t stop there. According to a
recent operational alert from Fin-
TRAC, Canadian-based drug-traf-
ficking rings are using money
laundered through China to buy
fentanyl there. “Financial intelli-
gence suggests that traffickers
procure fentanyl, and its ana-
logues and precursors, from over-
seas sources, mainly in China,”
said the bulletin. “Traffickers
most often pay for these materi-
als with wire transfers and money
orders processed by money-serv-
ices businesses.”
Apply that scenario to the pri-
vate lending operation, and you
get the potential for a clean circle
of dirty money. Traffickers can
import the fentanyl to Canada,
where they can sell it on the
street. They can then lend the
cash to borrowers, collect clean
repayments on those proceeds in
China, and use that money to buy
more product.
And on it goes.
The borrower who spoke to
The Globe said that the loans he
takes out are almost always in
cash. “The money is probably not
obtained through legitimate
channels,” he admitted, before
adding an obvious disclaimer.
“But I also don’t want to delve too
deeply.”
While The Globe was inter-
viewing him at his spacious and
secluded $3.8-million Vancouver
home, he received a text message
from a lender offering $50,000.
“They always look for us,” he
said. “They will ask us to take care
of their business and borrow
money from them … They have a
social network in mainland Chi-
na, and they will know the situa-
tion of your assets both in China
and Vancouver.”
He calls himself a “VIP gam-
bler” and estimates he’s bor-
rowed $13-million from lenders in
recent years, using his family’s
two B.C. mansions as collateral.
He says he pays interest at a rate
of five per cent every two weeks.
That amounts to 130 per cent
annually, more than twice the
legal limit.
He reluctantly accepts such an
outrageous rate – it’s the only way
he can get his hands on major
cash. “The money in China can-
not be gotten out,” he says, add-
ing that some borrowers plunge
so deeply into debt that they
themselves go underground. “It’s
true that many people went
broke after borrowing that mon-
ey … then ran away and never
come back. They ditched their
properties and cars.” Some, he
says, even gave up their perma-
nent residency or a shot at Cana-
dian citizenship.
Case in point: At one of the 45
properties The Globe looked into,
a lender registered a $660,000
stake in a Vancouver home five
years ago. Court filings say the
borrower left for China and isn’t
coming back. The lender, mean-
while, stands to get much more
out of the loan than he put in: The
home has doubled in value, and
interest on the debt – all payable
to the financier, when the house
is eventually sold – keeps grow-
ing.
In another property in which
the same lender has a claim, the
house is sitting vacant and, al-
though there is a Bentley still
parked in the garage, neighbours
say the owners haven’t been seen
in almost a year. That home is
worth twice what it was when the
loan was issued.
Because the properties are not
in the lenders’ names, their
investments can’t be seized as
proceeds of crime, even if police
could prove a connection be-
tween the money they lent and
the opioids they were allegedly
peddling. Most of the homes the
Zhangs had stakes in were sold
just months after they filed their
claims on the properties.
As lenders, the Zhangs
were then paid out by
cheques from lawyers,
the same way a bank gets
paid when it holds a
mortgage.
“These people have
taken advantage of quite
a few tactics here. These
are people with a vast
money-lending enter-
prise,” said Ron Usher, a
Vancouver lawyer who
teaches real estate law to
B.C. notaries, and who
reviewed The Globe’s
data. “I have some faith
in our courts to sort
these things out. But if [a
borrower] doesn’t re-
spond and just isn’t [in
Canada], and the lenders
get a court judgment,
then things flow from
there. And if these are
the ones that ended in
court, you know there
are many, many more.”
B U I L D I N G D EC E P T I O N
Unregulated lending
networks are familiar to Chinese
citizens. Similar enterprises are
part of that country’s so-called
shadow-banking system: a huge
web of operators who peddle
high-interest loans, outside the
banking system, through electro-
nic messages and personal con-
nections.
Beyond the questionable
sources of cash, another dark side
to these practices in Canada – in
plain view, within court records –
involves allegations of threats
and extortion by lenders, and
deception on both sides of the
money-lending equation.
The Zhangs have made some
of the most brazenly dubious
claims, as a way to force collection
on debts, claims which have gone
undetected and unchallenged in
the courts. In four cases, lenders
Ying and Zhi Guang Zhang posed
as builders, claiming they did so-
called “construction” and “reno-
vations,” none of which were
done, let alone by them.
They were able to pull off that
masquerade by filing what’s
called a “builders lien” against
each house – a simple, one-page
form, designed to be used by real
builders who haven’t been paid.
The lien gives its holder an imme-
diate legal stake in the real estate
– without the owners having to be
informed. A builders lien is easier
to register than a mortgage,
which a borrower must agree to.
When the house is sold, if the
owner doesn’t challenge the
claim, the builder automatically
gets the money he says he is
owed. “These guys are pretty clev-
er to use the builders lien,” said
Lawrence Wong, another lawyer
who has represented borrowers.
“People pay no attention to a
builders lien. They say, ‘Okay,
here’s a builders lien. Let’s pay it
out.’ ”
The Zhangs are not registered
builders. In one case, they
claimed they “built the whole
house” for $2-million. In fact, it
had been built three years earlier
by a registered builder. In the oth-
er cases, the Zhangs said they did
major renovations or, again, built
an entire house. Sales listings and
property records prove those
claims to be untrue.
The four properties in question
have since sold for significant
profits. It appears the Zhangs
were paid out each time, as
“builders.” That allowed them to
rake in a total of more than
$3-million, in perfectly clean
money.
“Loan sharking usually only
works with threats … so using the
property is new and smart if you
think about it,” Mr. Wong said.
“You force the [owner] to have to
go to court. It’s not an easy task to
get [a lien] removed,” he says,
adding that it’s especially difficult
“when people are not living here.”
WA R N I N G S, A N D D E F I A N C E
The most enterprising private
lenders The Globe looked into are
Paul King Pao Jin and his wife,
Xiaoqi Wei. They’ve staked claims
against 28 Vancouver-area prop-
erties since 2012, for loans and
mortgages totalling $16.6-mil-
lion.
The RCMP raided the couple’s
Richmond home two years ago,
while investigating international
drug trafficking and money-laun-
dering operations, and found
$4-million in cash. Neither Mr. Jin
nor Ms. Wei has been charged
with any crimes.
To high rollers at Richmond’s
River Rock Casino looking for
quick cash, Mr. Jin is known as
one of the more sophisticated
lenders. In court documents, Ms.
Wei is referred to as his “assis-
tant.” They hold mortgages on
some of their debtors’ properties.
But they’ve also filed lawsuits
against borrowers who didn’t sign
mortgage agreements, but who,
according to the couple, took
short-term loans and didn’t pay
them back.
Regardless, in almost every
case, Mr. Jin and Ms. Wei claimed
the loans were for construction,
renovations or mortgage pay-
ments for borrowers’ homes. That
is the only way a lender who
doesn’t hold a mortgage can
make a legal claim against a prop-
erty. “You have to claim some in-
terest in the home,” said Mr. Ush-
er, the Vancouver real estate law-
yer.
“If I lend you some money, I
have no right to go after your
house. My claim has to involve
some claim that relates it to the
land … If you are successful, you
can force a sale.”
In a third of those cases, the
borrowers either didn’t respond
to lawsuits filed by the couple, or
they settled, and Mr. Jin and Ms.
Wei got all or some of their money
out of the property, sometimes by
court judgment.
Some of the people they’ve
pursued over unpaid debts, how-
ever, fought back in court – and
accused Mr. Jin of a variety of
things, including fraud, forgery
and coercion. Most were wives
whose names were on a proper-
ty’s title but who claimed they
knew nothing about loans made
to their husbands.
Ru Bing Shen was one of them.
“I never had any dealings with
[Mr. Jin]. I never hired him to do
renovations,” Ms. Shen swore in a
2015 affidavit, after Mr. Jin and an-
other lender filed $1.1-million in
charges against her $2.64-million
home in Vancouver’s pricey west
side.
She’d just been divorced and
wanted to sell, but couldn’t –
unless she got the court to
remove those claims from the ti-
tle.
According to Ms. Shen’s affida-
vit, she came home one day, after
picking her child up at school,
and was confronted by Mr. Jin and
four other men “waiting outside,
all with shaved heads.” She said
she told her child to “rush inside.”
Mr. Jin said he was looking for her
husband, “then told me that he
would return whenever he
wished.” She said she feared
“what Mr. Jin could do to me or to
my family” and didn’t feel safe in
her home.
Ms. Wei responded in court fil-
ings, saying that she and Mr. Jin
had given Ms. Shen’s husband
$405,000 worth of loans, all in
cash. She claimed that Ms. Shen
had admitted owing the couple
money, when they visited her
home. The judge sided with Ms.
Shen and dismissed the couple’s
claims against the property.
Hers is not the only case in
which Mr. Jin is accused of drag-
ging other people into disputes
he has with his borrowers.
Chujun Xiang is a student from
a wealthy family, who claimed in
a 2014 lawsuit that Mr. Jin threat-
ened her with violence from
“Vietnamese gang members.”
Unlike Ms. Shen, she didn’t plead
ignorance about the loan in ques-
tion. In fact, she had pledged the
condo she owned as collateral for
money that Mr. Jin had loaned to
a friend of hers, who didn’t pay
him back. The short-term loans
totalled $70,000, a debt that was
growing at 40-per-cent annual in-
terest.
Ms. Xiang’s lawsuit claims
that Mr. Jin forced her “under
duress arising from threats” to
sign over full title to her $320,000
condo, at his lawyer’s office, giv-
ing her no time to get the debt
repaid another way. Mr. Jin and
his wife sold the home immedi-
ately and pocketed more than
$100,000 after the bank mortgage
was paid. Mr. Jin didn’t respond to
Ms. Xiang’s lawsuit, which hasn’t
gone to trial.
Given that the various private
lenders stand accused of making
threats, trafficking in deadly
drugs and laundering money, The
Globe asked the RCMP for an in-
terview for this story, but didn’t
hear back. The Globe also tried to
get in touch with the biggest len-
ders named here, but received no
response.
T H E L AW Y E R S ’ RO L E
It would be impossible for the
shady operators to obtain their
stakes in millions of dollars’
worth of real estate if it weren’t for
Canadian lawyers willing to give
them an air of legitimacy, by writ-
ing up mortgage agreements and
filing lawsuits on their behalf.
Several experts suggested to The
Globe that serious questions
should be raised about solicitors
who engage in these transactions.
Lawyer Hong Guo drew up the
paperwork that paved the way for
Ms. Xiang to sign over her prop-
erty. Perhaps more disturbingly,
land-titles records show that she
has facilitated numerous deals for
Mr. Jin and at least one other len-
der with possible connections to
drug crime. The rules of the Law
Society of British Columbia stipu-
late that any member who
“knows or ought to know” that
they would be assisting in illegal
activity must drop the client
involved.
Denis Meunier, formerly of Fin-
TRAC, believes that such restric-
tions don’t carry much weight in
the current system, where law-
yers police themselves. “The rules
are weak for lawyers and there is
very little enforcement,” he said.
“There are questions that all law-
yers should be asking. Among
them: Where is the money com-
ing from? Am I being used to facil-
itate money laundering?”
The B.C. law society has been
investigating Ms. Guo for months,
ever since $7.5-million she was
holding in trust for clients went
missing. She insists the clients’
money was stolen by two of her
employees who fled to China. The
regulator says its probe is not yet
finished.
As for her lender clients, in an
interview with The Globe Ms. Guo
said that she had “no clue” that
Ms. Wei and Mr. Jin – whom she
called “a bit rough” – were poten-
tially laundering drug money.
“They came here as regular cli-
ents,” Ms. Guo said. “I have never
seen anything in cash. They
always say they will pass on the
money [to the borrower] by
themselves. It never goes through
me.”
Lawyers don’t have to report
suspicious transactions to Fin-
TRAC, regardless, because the
Federation of Law Societies of
Canada fought that requirement
in the Supreme Court of Canada
and won. The lawyers had argued
that reporting on their clients
would violate a solicitors’ obliga-
tion to keep matters confidential.
Ms. Guo insists that she asks all
her lender clients where they get
their money from – and that she
takes what they say at face value:
“We are not the police and we are
not FinTRAC and we have no way
of doing an investigation. We ask,
‘What is the source of the funds?’
and normally they say that is their
savings.”
“I am the biggest Chinese law-
yer in the Chinese community. We
do 600 million [dollars] a year in
transactions. Maybe that is why
we are a target for criminal activi-
ties. They know we are doing lots
of work.”
Even lawyers who steer clear of
shady lender clients can find
themselves in hot water over
these deals. David Chen is being
sued by one of his clients, over an
$800,000 mortgage, from sus-
pected drug dealer Zhi Guang
Zhang, for which Mr. Chen did the
paperwork. The borrower client
claims that Mr. Chen didn’t do
enough to help him understand
what he was getting into.
“We have a lot of newcomers,
and they bring a different way of
doing business and dealing with
money,” said Mr. Chen, referring
to clients from China whom he
represents. “They like to have
cash here … If they don’t know
about interest rates [charged by
legitimate lenders] in Canada and
they have no idea of the norm
here, then they are getting taken
advantage of.”
[email protected]
Kathy Tomlinson is a reporter on
The Globe’s national investigative
team. In 2016, she won a National
Newspaper Award, and earned a
Michener Award nomination, for her
investigation into questionable
conduct in Vancouver’s real estate
market.
N E W S |
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Kathy Tomlinson and Xiao Xu report
A 1 4 - 1 5
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A 8
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HOW SHADY LENDERS CONNECTED TO DRUG CRIME ARE USING
VANCOUVER’S REAL ESTATE MARKET TO CLEAN THEIR CASH,
PROP UP INFLATED HOUSE PRICES AND MAKE A TIDY PROFIT
PROCEEDS OF CRIME
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A 1 4 G T H E G LO B E A N D M A I L | S AT U R DAY , F E B R U A RY 1 7 , 2 0 1 8
I
t was dirty money – stuffed in
the trunk of their Mercedes
and behind a seat in their
Range Rover. The rest was squir-
relled away in a safe and a night
table, at a condo they were using.
Small bills – $660,970 in all –
covered with traces of deadly fen-
tanyl and other street drugs. Po-
lice seized the cash in the spring
of 2016, when they arrested Ying
Zhang, Zhi Guang Zhang and Wei
Zhang, after putting them under
surveillance and watching them
conduct business in parking lots
in and around Vancouver.
They weren’t charged with any
crimes, despite the evidence that
they were peddling opioids that
kill people. It’s not unusual in B.C.
for police to forgo pursuing
charges when they find dealers in
possession of drug money, but
not holding actual drugs. The
Zhangs did lose their cash,
though, for good: A judge ordered
it forfeited to the provincial
government as “proceeds of
crime.”
It’s a big headache for any drug
trafficker: trying to protect illicit
profits from being stolen or con-
fiscated. They can’t walk into a
bank with bags of cash, because
staff would be required to report
that to authorities as suspicious.
And so the money piles up. Until
they find a way to launder it.
A Globe and Mail investigation
has discovered that the Zhangs
and other local residents associat-
ed with drug-related crime are
effectively parking their riches in
Vancouver-area real estate, where
it is rendered clean and secure,
without actually owning any of
the properties. They call them-
selves private lenders – issuing
millions of dollars in registered
mortgages and short-term loans.
Just as a bank does, they grant a
loan, then register a land-title
charge against the borrower’s real
estate, equal to the value of the
debt, plus interest. The charge,
which gives them a stake in the
real estate, remains in place until
the debt is cleared. If the property
is sold, the loan gets paid out
from the sale proceeds, in clean
money, all seemingly legal.
Except these financiers are un-
regulated and unlicensed and the
loans they grant are in cash,
which is likely dirty money
derived from drug deals or other
crimes. The Zhangs charge inter-
est rates of up to 39.6 per cent,
with some private lenders
demanding up to 120 per cent.
Court records show that one of
the Zhangs’ associates is among
those allegedly charging that
extortionate level of interest,
which is double the maximum
legal rate.
By combing through hundreds
of lawsuits, foreclosures and
property records, The Globe iden-
tified 17 such lenders, who have
collectively claimed a $47-million
stake, plus interest, in 45 Vancou-
ver-area properties in recent
years. The three Zhangs alone laid
claim to at least $20.7-million of
that, individually or through
numbered companies.
As dramatic as those numbers
may appear, they represent just a
small sample of loans and mort-
gages that such private lenders
have bankrolled.
Their target customers are
wealthy Chinese newcomers or
tourists – and their grown chil-
dren – who’ve bought property in
Canada and who want to use it as
leverage to borrow large amounts
of cash, as they might with a
home-equity line of credit, for
gambling or other extravagances.
Some borrowers appear to use
the loans to pay down other
debts.
Typically, their wealth is in Chi-
na – money that can’t easily be
wired to B.C., because the Chinese
government forbids its citizens
from taking more than
US$50,000 per year abroad. Most
of the homeowners already have
at least one mortgage with a Ca-
nadian bank, and may have
maxed out their legitimate bor-
rowing power in this country.
Enter the private lenders, offer-
ing quick, easy money – by word
of mouth – through social and
business circles.
One of the Zhangs’ customers
was a real estate developer, based
in China, who has a gambling
habit. Jia Gui Gao borrowed tens
of millions of dollars – more than
his B.C. properties were worth –
from several private lenders.
Then he simply walked away
from $58-million worth of empty
Vancouver-area man-
sions and vacant land he
owned, leaving it all to
his creditors.
When one of the
properties sold for $8.7-
million in a foreclosure
last year, mortgage hol-
ders and suspected drug
dealers Ying Zhang and
Wei Zhang received
court-approved payouts
totalling $2.18-million.
That money consti-
tutes another source of
credit churning through
the real estate market,
that financial regulators
aren’t monitoring. The
private lending is also
yet another scheme that
may well be inflating
sale prices, in a city
where real estate specu-
lation has already
pushed prices well
beyond the reach of
middle-class citizens
and has ignited a nation-
al debate and a raft of re-
sponses from policy-
makers.
Many of the proper-
ties The Globe looked at
sold, after the private
loans were taken out, for
much more than the
owners had paid for
them. Each time a real-
estate investor cashes
out like that, it sets the
market price higher for
all houses in the neigh-
bourhood.
“The borrowers are
using their homes as collateral, so
I would think there is an incentive
to sell your house at a higher price
later, speculating on the hot real
estate market, to cover the costs
incurred to pay off extremely
high interest payments,” said
Denis Meunier, former deputy
director of FinTRAC, the federal
agency that analyzes money
laundering.
Richmond lawyer David Chen,
who has represented some of the
borrowers, agrees. “It could be
one of the reasons we have such a
jacked-up real estate market in
Vancouver,” he said. “If today our
regulators had a way of managing
and minimizing these transac-
tions … you would have the mon-
ey going somewhere else, not
secured through real estate.”
Beyond the Zhangs, such pri-
vate moneylenders in B.C. include
Xun Chuang, who has a record of
drug crimes; Vinh-Loc Chung,
convicted for carrying a restricted
firearm; Xiao Ju Guan, found stor-
ing ecstasy and other drugs; Ye Jin
Li, convicted on drug charges;
and Kwok Chung Tam, a long-
time Vancouver lender who’s
been convicted of drug crimes.
Mr. Guan also ran a business wir-
ing cash overseas.
The $47-million in private
lending unearthed by The Globe
is a just a fraction of the question-
able lending: Only debts in dis-
pute or serious default end up in
court, generating a paper trail.
T H E F E N TA N Y L CO N N EC T I O N
Most of the loans get paid back
privately, and no one is the wiser.
Once a loan is secured, with real
estate as collateral, paying it back,
under the radar, is simple. One
long-time customer told The
Globe that he and most other bor-
rowers make their payments via
electronic transfer from their
bank accounts in China to
accounts that the lenders hold,
also in China.
How shady lenders with drug-crime
connections are using B.C. real estate
to clean dirty money
In 2015, suspected money launderers and drug
dealers were involved in multimillion-dollar loans
and mortgages to the owner of these five
Vancouver properties. By 2016, all the properties
were sold, with debts to the lenders exceeding
the sale prices.
A Globe and Mail investigation identified 17 unregulated, cash-only lenders, who collectively claimed a $47-million stake in Vancouver-area properties. PHOTOS: BEN NELMS/THE GLOBE AND MAIL
Through millions of dollars in private lending and mortgages, people
connected to the fentanyl trade are parking their illicit gains in the
Vancouver-area property market – and using alleged threats, extortion
and deception against homeowners to make sure they get their money
back. Kathy Tomlinson and Xiao Xu investigate
| N E W S
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S AT U R DAY , F E B R U A RY 1 7 , 2 0 1 8 | T H E G LO B E A N D M A I L G A 1 5
“I can pay the money online on
my phone,” said the customer,
whom The Globe agreed not to
name, because he fears repercus-
sions. He added that the lenders
work in tandem with people who
operate underground banks in
China. “We all use our money in
China to pay back … We don’t
have money here.”
Those offshore payments are
thus delivered to the lenders as
clean money – beyond the reach
of Canadian law enforcement.
The dubious transactions
don’t stop there. According to a
recent operational alert from Fin-
TRAC, Canadian-based drug-traf-
ficking rings are using money
laundered through China to buy
fentanyl there. “Financial intelli-
gence suggests that traffickers
procure fentanyl, and its ana-
logues and precursors, from over-
seas sources, mainly in China,”
said the bulletin. “Traffickers
most often pay for these materi-
als with wire transfers and money
orders processed by money-serv-
ices businesses.”
Apply that scenario to the pri-
vate lending operation, and you
get the potential for a clean circle
of dirty money. Traffickers can
import the fentanyl to Canada,
where they can sell it on the
street. They can then lend the
cash to borrowers, collect clean
repayments on those proceeds in
China, and use that money to buy
more product.
And on it goes.
The borrower who spoke to
The Globe said that the loans he
takes out are almost always in
cash. “The money is probably not
obtained through legitimate
channels,” he admitted, before
adding an obvious disclaimer.
“But I also don’t want to delve too
deeply.”
While The Globe was inter-
viewing him at his spacious and
secluded $3.8-million Vancouver
home, he received a text message
from a lender offering $50,000.
“They always look for us,” he
said. “They will ask us to take care
of their business and borrow
money from them … They have a
social network in mainland Chi-
na, and they will know the situa-
tion of your assets both in China
and Vancouver.”
He calls himself a “VIP gam-
bler” and estimates he’s bor-
rowed $13-million from lenders in
recent years, using his family’s
two B.C. mansions as collateral.
He says he pays interest at a rate
of five per cent every two weeks.
That amounts to 130 per cent
annually, more than twice the
legal limit.
He reluctantly accepts such an
outrageous rate – it’s the only way
he can get his hands on major
cash. “The money in China can-
not be gotten out,” he says, add-
ing that some borrowers plunge
so deeply into debt that they
themselves go underground. “It’s
true that many people went
broke after borrowing that mon-
ey … then ran away and never
come back. They ditched their
properties and cars.” Some, he
says, even gave up their perma-
nent residency or a shot at Cana-
dian citizenship.
Case in point: At one of the 45
properties The Globe looked into,
a lender registered a $660,000
stake in a Vancouver home five
years ago. Court filings say the
borrower left for China and isn’t
coming back. The lender, mean-
while, stands to get much more
out of the loan than he put in: The
home has doubled in value, and
interest on the debt – all payable
to the financier, when the house
is eventually sold – keeps grow-
ing.
In another property in which
the same lender has a claim, the
house is sitting vacant and, al-
though there is a Bentley still
parked in the garage, neighbours
say the owners haven’t been seen
in almost a year. That home is
worth twice what it was when the
loan was issued.
Because the properties are not
in the lenders’ names, their
investments can’t be seized as
proceeds of crime, even if police
could prove a connection be-
tween the money they lent and
the opioids they were allegedly
peddling. Most of the homes the
Zhangs had stakes in were sold
just months after they filed their
claims on the properties.
As lenders, the Zhangs
were then paid out by
cheques from lawyers,
the same way a bank gets
paid when it holds a
mortgage.
“These people have
taken advantage of quite
a few tactics here. These
are people with a vast
money-lending enter-
prise,” said Ron Usher, a
Vancouver lawyer who
teaches real estate law to
B.C. notaries, and who
reviewed The Globe’s
data. “I have some faith
in our courts to sort
these things out. But if [a
borrower] doesn’t re-
spond and just isn’t [in
Canada], and the lenders
get a court judgment,
then things flow from
there. And if these are
the ones that ended in
court, you know there
are many, many more.”
B U I L D I N G D EC E P T I O N
Unregulated lending
networks are familiar to Chinese
citizens. Similar enterprises are
part of that country’s so-called
shadow-banking system: a huge
web of operators who peddle
high-interest loans, outside the
banking system, through electro-
nic messages and personal con-
nections.
Beyond the questionable
sources of cash, another dark side
to these practices in Canada – in
plain view, within court records –
involves allegations of threats
and extortion by lenders, and
deception on both sides of the
money-lending equation.
The Zhangs have made some
of the most brazenly dubious
claims, as a way to force collection
on debts, claims which have gone
undetected and unchallenged in
the courts. In four cases, lenders
Ying and Zhi Guang Zhang posed
as builders, claiming they did so-
called “construction” and “reno-
vations,” none of which were
done, let alone by them.
They were able to pull off that
masquerade by filing what’s
called a “builders lien” against
each house – a simple, one-page
form, designed to be used by real
builders who haven’t been paid.
The lien gives its holder an imme-
diate legal stake in the real estate
– without the owners having to be
informed. A builders lien is easier
to register than a mortgage,
which a borrower must agree to.
When the house is sold, if the
owner doesn’t challenge the
claim, the builder automatically
gets the money he says he is
owed. “These guys are pretty clev-
er to use the builders lien,” said
Lawrence Wong, another lawyer
who has represented borrowers.
“People pay no attention to a
builders lien. They say, ‘Okay,
here’s a builders lien. Let’s pay it
out.’ ”
The Zhangs are not registered
builders. In one case, they
claimed they “built the whole
house” for $2-million. In fact, it
had been built three years earlier
by a registered builder. In the oth-
er cases, the Zhangs said they did
major renovations or, again, built
an entire house. Sales listings and
property records prove those
claims to be untrue.
The four properties in question
have since sold for significant
profits. It appears the Zhangs
were paid out each time, as
“builders.” That allowed them to
rake in a total of more than
$3-million, in perfectly clean
money.
“Loan sharking usually only
works with threats … so using the
property is new and smart if you
think about it,” Mr. Wong said.
“You force the [owner] to have to
go to court. It’s not an easy task to
get [a lien] removed,” he says,
adding that it’s especially difficult
“when people are not living here.”
WA R N I N G S, A N D D E F I A N C E
The most enterprising private
lenders The Globe looked into are
Paul King Pao Jin and his wife,
Xiaoqi Wei. They’ve staked claims
against 28 Vancouver-area prop-
erties since 2012, for loans and
mortgages totalling $16.6-mil-
lion.
The RCMP raided the couple’s
Richmond home two years ago,
while investigating international
drug trafficking and money-laun-
dering operations, and found
$4-million in cash. Neither Mr. Jin
nor Ms. Wei has been charged
with any crimes.
To high rollers at Richmond’s
River Rock Casino looking for
quick cash, Mr. Jin is known as
one of the more sophisticated
lenders. In court documents, Ms.
Wei is referred to as his “assis-
tant.” They hold mortgages on
some of their debtors’ properties.
But they’ve also filed lawsuits
against borrowers who didn’t sign
mortgage agreements, but who,
according to the couple, took
short-term loans and didn’t pay
them back.
Regardless, in almost every
case, Mr. Jin and Ms. Wei claimed
the loans were for construction,
renovations or mortgage pay-
ments for borrowers’ homes. That
is the only way a lender who
doesn’t hold a mortgage can
make a legal claim against a prop-
erty. “You have to claim some in-
terest in the home,” said Mr. Ush-
er, the Vancouver real estate law-
yer.
“If I lend you some money, I
have no right to go after your
house. My claim has to involve
some claim that relates it to the
land … If you are successful, you
can force a sale.”
In a third of those cases, the
borrowers either didn’t respond
to lawsuits filed by the couple, or
they settled, and Mr. Jin and Ms.
Wei got all or some of their money
out of the property, sometimes by
court judgment.
Some of the people they’ve
pursued over unpaid debts, how-
ever, fought back in court – and
accused Mr. Jin of a variety of
things, including fraud, forgery
and coercion. Most were wives
whose names were on a proper-
ty’s title but who claimed they
knew nothing about loans made
to their husbands.
Ru Bing Shen was one of them.
“I never had any dealings with
[Mr. Jin]. I never hired him to do
renovations,” Ms. Shen swore in a
2015 affidavit, after Mr. Jin and an-
other lender filed $1.1-million in
charges against her $2.64-million
home in Vancouver’s pricey west
side.
She’d just been divorced and
wanted to sell, but couldn’t –
unless she got the court to
remove those claims from the ti-
tle.
According to Ms. Shen’s affida-
vit, she came home one day, after
picking her child up at school,
and was confronted by Mr. Jin and
four other men “waiting outside,
all with shaved heads.” She said
she told her child to “rush inside.”
Mr. Jin said he was looking for her
husband, “then told me that he
would return whenever he
wished.” She said she feared
“what Mr. Jin could do to me or to
my family” and didn’t feel safe in
her home.
Ms. Wei responded in court fil-
ings, saying that she and Mr. Jin
had given Ms. Shen’s husband
$405,000 worth of loans, all in
cash. She claimed that Ms. Shen
had admitted owing the couple
money, when they visited her
home. The judge sided with Ms.
Shen and dismissed the couple’s
claims against the property.
Hers is not the only case in
which Mr. Jin is accused of drag-
ging other people into disputes
he has with his borrowers.
Chujun Xiang is a student from
a wealthy family, who claimed in
a 2014 lawsuit that Mr. Jin threat-
ened her with violence from
“Vietnamese gang members.”
Unlike Ms. Shen, she didn’t plead
ignorance about the loan in ques-
tion. In fact, she had pledged the
condo she owned as collateral for
money that Mr. Jin had loaned to
a friend of hers, who didn’t pay
him back. The short-term loans
totalled $70,000, a debt that was
growing at 40-per-cent annual in-
terest.
Ms. Xiang’s lawsuit claims
that Mr. Jin forced her “under
duress arising from threats” to
sign over full title to her $320,000
condo, at his lawyer’s office, giv-
ing her no time to get the debt
repaid another way. Mr. Jin and
his wife sold the home immedi-
ately and pocketed more than
$100,000 after the bank mortgage
was paid. Mr. Jin didn’t respond to
Ms. Xiang’s lawsuit, which hasn’t
gone to trial.
Given that the various private
lenders stand accused of making
threats, trafficking in deadly
drugs and laundering money, The
Globe asked the RCMP for an in-
terview for this story, but didn’t
hear back. The Globe also tried to
get in touch with the biggest len-
ders named here, but received no
response.
T H E L AW Y E R S ’ RO L E
It would be impossible for the
shady operators to obtain their
stakes in millions of dollars’
worth of real estate if it weren’t for
Canadian lawyers willing to give
them an air of legitimacy, by writ-
ing up mortgage agreements and
filing lawsuits on their behalf.
Several experts suggested to The
Globe that serious questions
should be raised about solicitors
who engage in these transactions.
Lawyer Hong Guo drew up the
paperwork that paved the way for
Ms. Xiang to sign over her prop-
erty. Perhaps more disturbingly,
land-titles records show that she
has facilitated numerous deals for
Mr. Jin and at least one other len-
der with possible connections to
drug crime. The rules of the Law
Society of British Columbia stipu-
late that any member who
“knows or ought to know” that
they would be assisting in illegal
activity must drop the client
involved.
Denis Meunier, formerly of Fin-
TRAC, believes that such restric-
tions don’t carry much weight in
the current system, where law-
yers police themselves. “The rules
are weak for lawyers and there is
very little enforcement,” he said.
“There are questions that all law-
yers should be asking. Among
them: Where is the money com-
ing from? Am I being used to facil-
itate money laundering?”
The B.C. law society has been
investigating Ms. Guo for months,
ever since $7.5-million she was
holding in trust for clients went
missing. She insists the clients’
money was stolen by two of her
employees who fled to China. The
regulator says its probe is not yet
finished.
As for her lender clients, in an
interview with The Globe Ms. Guo
said that she had “no clue” that
Ms. Wei and Mr. Jin – whom she
called “a bit rough” – were poten-
tially laundering drug money.
“They came here as regular cli-
ents,” Ms. Guo said. “I have never
seen anything in cash. They
always say they will pass on the
money [to the borrower] by
themselves. It never goes through
me.”
Lawyers don’t have to report
suspicious transactions to Fin-
TRAC, regardless, because the
Federation of Law Societies of
Canada fought that requirement
in the Supreme Court of Canada
and won. The lawyers had argued
that reporting on their clients
would violate a solicitors’ obliga-
tion to keep matters confidential.
Ms. Guo insists that she asks all
her lender clients where they get
their money from – and that she
takes what they say at face value:
“We are not the police and we are
not FinTRAC and we have no way
of doing an investigation. We ask,
‘What is the source of the funds?’
and normally they say that is their
savings.”
“I am the biggest Chinese law-
yer in the Chinese community. We
do 600 million [dollars] a year in
transactions. Maybe that is why
we are a target for criminal activi-
ties. They know we are doing lots
of work.”
Even lawyers who steer clear of
shady lender clients can find
themselves in hot water over
these deals. David Chen is being
sued by one of his clients, over an
$800,000 mortgage, from sus-
pected drug dealer Zhi Guang
Zhang, for which Mr. Chen did the
paperwork. The borrower client
claims that Mr. Chen didn’t do
enough to help him understand
what he was getting into.
“We have a lot of newcomers,
and they bring a different way of
doing business and dealing with
money,” said Mr. Chen, referring
to clients from China whom he
represents. “They like to have
cash here … If they don’t know
about interest rates [charged by
legitimate lenders] in Canada and
they have no idea of the norm
here, then they are getting taken
advantage of.”
[email protected]
Kathy Tomlinson is a reporter on
The Globe’s national investigative
team. In 2016, she won a National
Newspaper Award, and earned a
Michener Award nomination, for her
investigation into questionable
conduct in Vancouver’s real estate
market.
N E W S |
For personal use only. Printed by PressReader (C) PressReader. ID:05EF40922C9447BC8A91D618DDC05F50dd258d84
A G U I D E T O T H E B U S I N E S S A N A L Y S I S
B O D Y O F K N O W L E D G E ®
v3
BABOK
®
v3
A GUIDE TO THE BUSINESS ANALYSIS
BODY OF KNOWLEDGE®
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International Institute of Business Analysis, Toronto, Ontario, Canada.
©2005, 2006, 2008, 2009, 2015 International Institute of Business Analysis. All rights reserved.
Version 1.0 and 1.4 published 2005. Version 1.6 Draft published 2006. Version 1.6 Final published 2008. Version 2.0
published 2009. Version 3.0 published 2015.
ISBN-13: 978-1-927584-03-3
Permission is granted to reproduce this document for your own personal, professional, or educational use. If you have
purchased a license to use this document from IIBA®, you may transfer ownership to a third party. IIBA® members may not
transfer ownership of their complimentary copy.
This document is provided to the business analysis community for educational purposes. IIBA® does not warrant that it is
suitable for any other purpose and makes no expressed or implied warranty of any kind and assumes no responsibility for
errors or omissions. No liability is assumed for incidental or consequential damages in connection with or arising out of the
use of the information contained herein.
IIBA®, the IIBA® logo, BABOK® and Business Analysis Body of Knowledge® are registered trademarks owned by
International Institute of Business Analysis. CBAP® is a registered certification mark owned by International Institute of
Business Analysis. Certified Business Analysis Professional, EEP and the EEP logo are trademarks owned by International
Institute of Business Analysis.
Archimate® is a registered trademark of The Open Group in the US and other countries.
Business Model Canvas is copyrighted by BusinessModelGeneration.com and released under Creative Commons license.
CMMI® is a registered trademark of Carnegie Mellon University.
COBIT® is a trademark of the Information Systems Audit and Control Association and the IT Governance Institute.
Mind Map® is a registered trademark of the Buzan Organization.
Scaled Agile Framework® and SAFe™ are trademarks of Scaled Agile, Inc.
TOGAF® is a registered trademark of The Open Group in the US and other countries.
Unified Modelling Language™ and UML® are trademarks of the Object Management Group.
Zachman Framework for Enterprise Architecture is a trademark of the Zachman Institute for Framework Advancement.
No challenge to the status or ownership of these or any other trademarked terms contained herein is intended by the
International Institute of Business Analysis.
Any inquiries regarding this publication, requests for usage rights for the material included herein, or corrections should be
sent by email to [email protected]
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Table of Contents
Chapter 1: Introduction
1.1 Purpose of the BABOK® Guide 1
1.2 What is Business Analysis? 2
1.3 Who is a Business Analyst? 2
1.4 Structure of the BABOK® Guide 3
Chapter 2: Business Analysis Key Concepts
2.1 The Business Analysis Core Concept Model™ 12
2.2 Key Terms 14
2.3 Requirements Classification Schema 16
2.4 Stakeholders 16
2.5 Requirements and Designs 19
Chapter 3: Business Analysis Planning and Monitoring
3.1 Plan Business Analysis Approach 24
3.2 Plan Stakeholder Engagement 31
3.3 Plan Business Analysis Governance 37
3.4 Plan Business Analysis Information Management 42
3.5 Identify Business Analysis Performance Improvements 47
Table of Contents
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Chapter 4: Elicitation and Collaboration
4.1 Prepare for Elicitation 56
4.2 Conduct Elicitation 61
4.3 Confirm Elicitation Results 65
4.4 Communicate Business Analysis Information 67
4.5 Manage Stakeholder Collaboration 71
Chapter 5: Requirements Life Cycle Management
5.1 Trace Requirements 79
5.2 Maintain Requirements 83
5.3 Prioritize Requirements 86
5.4 Assess Requirements Changes 91
5.5 Approve Requirements 95
Chapter 6: Strategy Analysis
6.1 Analyze Current State 103
6.2 Define Future State 110
6.3 Assess Risks 120
6.4 Define Change Strategy 124
Chapter 7: Requirements Analysis and Design Definition
7.1 Specify and Model Requirements 136
7.2 Verify Requirements 141
7.3 Validate Requirements 144
7.4 Define Requirements Architecture 148
7.5 Define Design Options 152
7.6 Analyze Potential Value and Recommend Solution 157
Chapter 8: Solution Evaluation
8.1 Measure Solution Performance 166
8.2 Analyze Performance Measures 170
8.3 Assess Solution Limitations 173
8.4 Assess Enterprise Limitations 177
8.5 Recommend Actions to Increase Solution Value 182
Chapter 9: Underlying Competencies
9.1 Analytical Thinking and Problem Solving 188
Table of Contents
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9.2 Behavioural Characteristics 194
9.3 Business Knowledge 199
9.4 Communication Skills 203
9.5 Interaction Skills 207
9.6 Tools and Technology 211
Chapter 10: Techniques
10.1 Acceptance and Evaluation Criteria 217
10.2 Backlog Management 220
10.3 Balanced Scorecard 223
10.4 Benchmarking and Market Analysis 226
10.5 Brainstorming 227
10.6 Business Capability Analysis 230
10.7 Business Cases 234
10.8 Business Model Canvas 236
10.9 Business Rules Analysis 240
10.10 Collaborative Games 243
10.11 Concept Modelling 245
10.12 Data Dictionary 247
10.13 Data Flow Diagrams 250
10.14 Data Mining 253
10.15 Data Modelling 256
10.16 Decision Analysis 261
10.17 Decision Modelling 265
10.18 Document Analysis 269
10.19 Estimation 271
10.20 Financial Analysis 274
10.21 Focus Groups 279
10.22 Functional Decomposition 283
10.23 Glossary 286
10.24 Interface Analysis 287
10.25 Interviews 290
10.26 Item Tracking 294
10.27 Lessons Learned 296
10.28 Metrics and Key Performance Indicators (KPIs) 297
10.29 Mind Mapping 299
10.30 Non-Functional Requirements Analysis 302
10.31 Observation 305
10.32 Organizational Modelling 308
Table of Contents
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10.33 Prioritization 311
10.34 Process Analysis 314
10.35 Process Modelling 318
10.36 Prototyping 323
10.37 Reviews 326
10.38 Risk Analysis and Management 329
10.39 Roles and Permissions Matrix 333
10.40 Root Cause Analysis 335
10.41 Scope Modelling 338
10.42 Sequence Diagrams 341
10.43 Stakeholder List, Map, or Personas 344
10.44 State Modelling 348
10.45 Survey or Questionnaire 350
10.46 SWOT Analysis 353
10.47 Use Cases and Scenarios 356
10.48 User Stories 359
10.49 Vendor Assessment 361
10.50 Workshops 363
Chapter 11: Perspectives
11.1 The Agile Perspective 368
11.2 The Business Intelligence Perspective 381
11.3 The Information Technology Perspective 394
11.4 The Business Architecture Perspective 408
11.5 The Business Process Management Perspective 424
Appendix A: Glossary 441
Appendix B: Techniques to Task Mapping 457
Appendix C: Contributors 473
Appendix D: Summary of Changes from BABOK® Guide v 2.0 483
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Preface
IIBA® was founded in Toronto, Canada in October of 2003 to support the business analysis community
by:
• creating and developing awareness and recognition of the value and contribution of the business
analyst,
• defining the Business Analysis Body of Knowledge® (BABOK®),
• providing a forum for knowledge sharing and contribution to the business analysis profession,
and
• publicly recognizing and certifying qualified practitioners through an internationally
acknowledged certification program.
The Body of Knowledge Committee was formed in October of 2004 to define and draft a global
standard for the practice of business analysis. In January of 2005, IIBA released version 1.0 of A Guide
to the Business Analysis Body of Knowledge® (BABOK® Guide) for feedback and comment. That version
included an outline of the proposed content and some key definitions. Version 1.4 was released in
October of 2005, with draft content in some knowledge areas. Version 1.6, which included detailed
information regarding most of the knowledge areas, was published in draft form in June of 2006 and
updated to incorporate errata in October of 2008.
The Body of Knowledge Committee developed version 2.0 of A Guide to the Business Analysis Body of
Knowledge® (BABOK® Guide) with the guidance of expert writing teams, and feedback garnered from
expert, practitioner, and public reviews. Version 2.0 introduced such concepts as the Requirements
Classification Schema and the Input/Output models. Version 2.0 was published in 2009 and became the
globally recognized standard for the practice of business analysis.
Following the publication of version 2.0, IIBA sought out a number of recognized experts in business
analysis and related fields and solicited their feedback on the content of that edition. The Body of
Knowledge Committee used these comments to plan the vision and scope of this revision. The Body of
Knowledge Committee worked with teams of expert writers to revise and update the content. The
revised draft of A Guide to the Business Analysis Body of Knowledge® (BABOK® Guide) was reviewed
by teams of both expert and practitioner reviewers. The Body of Knowledge Committee used the
feedback provided to further enhance and refine the text and then made the content available to the
business analysis community for review in 2014. The thousands of items of feedback from this public
review were used to further revise the text to form A Guide to the Business Analysis Body of
Knowledge® (BABOK® Guide) version 3.0.
The goal of this revision was to:
• incorporate new concepts and practices in use since the last revision,
• address the broadening and evolving scope of the profession,
• incorporate lessons learned from practitioners who have worked with the current version,
• improve the readability and usability of the guide,
• improve the consistency and quality of text and illustrations, and
• improve consistency with other generally accepted standards relating to the practice of business
analysis.
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The major changes in this release include:
• the inclusion of the Business Analysis Core Concept Model™ (BACCM™),
• the expanded scope of the role of business analysis in creating better business outcomes,
• the inclusion of Perspectives which describe specialized ways in which business analysis
professionals provide unique value to the enterprise,
• new and expanded Underlying Competencies to better reflect the diverse skill sets of the business
analyst, and
• new techniques that have emerged in the practice of business analysis.
This publication supersedes A Guide to the Business Analysis Body of Knowledge® (BABOK® Guide)
version 2.0.
The BABOK® Guide contains a description of generally accepted practices in the field of business
analysis. The content included in this release has been verified through reviews by practitioners, surveys
of the business analysis community, and consultations with recognized experts in the field. The data
available to IIBA demonstrates that the tasks and techniques described in this publication are in use by a
majority of business analysis practitioners. As a result, we can have confidence that the tasks and
techniques described in the BABOK® Guide should be applicable in most contexts where business
analysis is performed, most of the time.
The BABOK® Guide should not be construed to mandate that the practices described in this publication
should be followed under all circumstances. Any set of practices must be tailored to the specific
conditions under which business analysis is being performed. In addition, practices which are not
generally accepted by the business analysis community at the time of publication may be equally
effective, or more effective, than the practices described in the BABOK® Guide. As such practices
become generally accepted, and as data is collected to verify their effectiveness, they will be
incorporated into future editions of this publication. IIBA encourages all practitioners of business
analysis to be open to new approaches and new ideas, and wishes to encourage innovation in the
practice of business analysis.
IIBA would like to extend its thanks and the thanks of the business analysis community to all those who
volunteered their time and effort to the development of this revision, as well as those who provided
informal feedback to us in other ways.
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1 Introduction
A Guide to the Business Analysis Body of Knowledge® (BABOK® Guide) is the
globally recognized standard for the practice of business analysis. The BABOK®
Guide describes business analysis knowledge areas, tasks, underlying
competencies, techniques and perspectives on how to approach business
analysis.
1.1 Purpose of the BABOK® Guide
The primary purpose of the BABOK® Guide is to define the profession of business
analysis and provide a set of commonly accepted practices. It helps practitioners
discuss and define the skills necessary to effectively perform business analysis
work. The BABOK® Guide also helps people who work with and employ business
analysts to understand the skills and knowledge they should expect from a skilled
practitioner.
Business analysis is a broad profession in which business analysts might perform
work for many different types of initiatives across an enterprise. Practitioners may
employ different competencies, knowledge, skills, terminology, and attitudes that
they use when performing business analysis tasks. The BABOK® Guide is a
common framework for all perspectives, describing business analysis tasks that
are performed to properly analyze a change or evaluate the necessity for a
change. Tasks may vary in form, order, or importance for individual business
analysts or for various initiatives.
The six knowledge areas of the BABOK® Guide (Business Analysis Planning and
Monitoring, Elicitation and Collaboration, Requirements Life Cycle Management,
Strategy Analysis, Requirements Analysis and Design Definition (RADD), and
What is Business Analysis? Introduction
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Solution Evaluation) describe the practice of business analysis as it is applied
within the boundaries of a project or throughout enterprise evolution and
continuous improvement. The following image shows how three of the
knowledge areas support the delivery of business value before, during, and after
the life cycle of a project.
Figure 1.1.1: Business Analysis Beyond Projects
1.2 What is Business Analysis?
Business analysis is the practice of enabling change in an enterprise by defining
needs and recommending solutions that deliver value to stakeholders. Business
analysis enables an enterprise to articulate needs and the rationale for change,
and to design and describe solutions that can deliver value.
Business analysis is performed on a variety of initiatives within an enterprise.
Initiatives may be strategic, tactical, or operational. Business analysis may be
performed within the boundaries of a project or throughout enterprise evolution
and continuous improvement. It can be used to understand the current state, to
define the future state, and to determine the activities required to move from the
current to the future state.
Business analysis can be performed from a diverse array of perspectives. The
BABOK® Guide describes several of these perspectives: agile, business
intelligence, information technology, business architecture, and business process
management. A perspective can be thought of as a lens through which the
business analysis practitioner views their work activities based on the current
context. One or many perspectives may apply to an initiative, and the perspectives
outlined in the BABOK® Guide do not represent all the contexts for business
analysis or the complete set of business analysis disciplines.
1.3 Who is a Business Analyst?
A business analyst is any person who performs business analysis tasks described in
the BABOK® Guide, no matter their job title or organizational role. Business
analysts are responsible for discovering, synthesizing, and analyzing information
Pre-Project Post-Project
Benefits
Project
Delivery
Strategy Analysis
RADD
Rationale
Project
Solution Evaluation
Introduction Structure of the BABOK® Guide
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from a variety of sources within an enterprise, including tools, processes,
documentation, and stakeholders. The business analyst is responsible for eliciting
the actual needs of stakeholders—which frequently involves investigating and
clarifying their expressed desires—in order to determine underlying issues and
causes.
Business analysts play a role in aligning the designed and delivered solutions with
the needs of stakeholders. The activities that business analysts perform include:
• understanding enterprise problems and goals,
• analyzing needs and solutions,
• devising strategies,
• driving change, and
• facilitating stakeholder collaboration.
Other common job titles for people who perform business analysis include:
• business architect,
• business systems analyst,
• data analyst,
• enterprise analyst,
• management consultant,
• process analyst,
• product manager,
• product owner,
• requirements engineer, and
• systems analyst.
1.4 Structure of the BABOK® Guide
The core content of the BABOK® Guide is composed of business analysis tasks
organized into knowledge areas. Knowledge areas are a collection of logically
(but not sequentially) related tasks. These tasks describe specific activities that
accomplish the purpose of their associated knowledge area.
The Business Analysis Key Concepts, Underlying Competencies, Techniques, and
Perspectives sections form the extended content in the BABOK® Guide that helps
guide business analysts to better perform business analysis tasks.
• Business Analysis Key Concepts: define the key terms needed to
understand all other content, concepts, and ideas within the BABOK®
Guide.
• Underlying Competencies: provide a description of the behaviours,
characteristics, knowledge, and personal qualities that support the effective
practice of business analysis.
Structure of the BABOK® Guide Introduction
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• Techniques: provide a means to perform business analysis tasks. The
techniques described in the BABOK® Guide are intended to cover the most
common and widespread techniques practiced within the business analysis
community.
• Perspectives: describe various views of business analysis. Perspectives help
business analysts working from various points of view to better perform
business analysis tasks, given the context of the initiative.
1.4.1 Key Concepts
The Business Analysis Key Concepts chapter provides a basic understanding of
the central ideas necessary for understanding the BABOK® Guide.
This chapter consists of:
• Business Analysis Core Concept Model™ (BACCM™)
• Key Terms
• Requirements Classification Schema
• Stakeholders
• Requirements and Design
1.4.2 Knowledge Areas
Knowledge areas represent areas of specific business analysis expertise that
encompass several tasks.
The six knowledge areas are:
Each knowledge
area includes a
visual
representation of
its inputs and
outputs.
• Business Analysis Planning and Monitoring: describes the tasks that
business analysts perform to organize and coordinate the efforts of
business analysts and stakeholders. These tasks produce outputs that are
used as key inputs and guidelines for the other tasks throughout the
BABOK® Guide.
• Elicitation and Collaboration: describes the tasks that business analysts
perform to prepare for and conduct elicitation activities and confirm the
results obtained. It also describes the communication with stakeholders
once the business analysis information is assembled and the ongoing
collaboration with them throughout the business analysis activities.
• Requirements Life Cycle Management: describes the tasks that business
analysts perform in order to manage and maintain requirements and design
information from inception to retirement. These tasks describe establishing
meaningful relationships between related requirements and designs, and
assessing, analyzing and gaining consensus on proposed changes to
requirements and designs.
• Strategy Analysis: describes the business analysis work that must be
performed to collaborate with stakeholders in order to identify a need of
strategic or tactical importance (the business need), enable the enterprise to
Introduction Structure of the BABOK® Guide
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address that need, and align the resulting strategy for the change with
higher- and lower-level strategies.
• Requirements Analysis and Design Definition: describes the tasks that
business analysts perform to structure and organize requirements
discovered during elicitation activities, specify and model requirements and
designs, validate and verify information, identify solution options that meet
business needs, and estimate the potential value that could be realized for
each solution option. This knowledge area covers the incremental and
iterative activities ranging from the initial concept and exploration of the
need through the transformation of those needs into a particular
recommended solution.
• Solution Evaluation: describes the tasks that business analysts perform to
assess the performance of and value delivered by a solution in use by the
enterprise, and to recommend removal of barriers or constraints that
prevent the full realization of the value.
The following diagram shows a general relationship between the knowledge
areas.
Figure 1.4.1: Relationships Between Knowledge Areas
1.4.3 Tasks
A task is a discrete piece of work that may be performed formally or informally as
part of business analysis. The BABOK® Guide defines a list of business analysis
tasks. The definition of a given task is universally applicable to business analysis
efforts, independent of the initiative type. A business analyst may perform other
Business Analysis
Planning and
Monitoring
Requirements Life
Cycle Management
Solution Evaluation
Elicitation and
Collaboration
Requirements
Analysis and Design
Definition
Strategy Analysis
Structure of the BABOK® Guide Introduction
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activities as assigned by their organization, but these additional activities are not
considered to be part of the business analysis profession.
Tasks are grouped into knowledge areas. Business analysts perform tasks from all
knowledge areas sequentially, iteratively, or simultaneously. The BABOK® Guide
does not prescribe a process or an order in which tasks are performed. Tasks may
be performed in any order, as long as the necessary inputs to a task are present.
A business analysis initiative may start with any task, although likely candidates
are Analyze Current State (p. 103) or Measure Solution Performance (p. 166).
Each task in the BABOK® Guide is presented in the following format:
• Purpose
• Description
• Inputs
• Elements
• Guidelines/Tools
• Techniques
• Stakeholders
• Outputs
.1 Purpose
The Purpose section provides a short description of the reason for a business
analyst to perform the task, and the value created through performing the task.
.2 Description
The Description section explains in greater detail what the task is, why it is
performed, and what it should accomplish.
.3 Inputs
The Inputs section lists the inputs for the task. Inputs are information consumed
or transformed to produce an output, and represent the information necessary
for a task to begin. They may be explicitly generated outside the scope of
business analysis or generated by a business analysis task. Inputs that are
generated outside of the business analysis efforts are identified with the qualifier
'(external)' in the input list.
There is no assumption that the presence of an input means that the associated
deliverable is complete or in its final state. The input only needs to be sufficiently
complete to allow successive work to begin. Any number of instances of an input
may exist during the life cycle of an initiative.
The Inputs section includes a visual representation of the inputs and outputs, the
other tasks that use the outputs, as well as the guidelines and tools listed in the
task.
Introduction Structure of the BABOK® Guide
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.4 Elements
The Elements section describes the key concepts that are needed to understand
how to perform the task. Elements are not mandatory as part of performing a
task, and their usage might depend upon the business analysis approach.
.5 Guidelines and Tools
The Guidelines and Tools section lists resources that are required to transform the
input into an output. A guideline provides instructions or descriptions on why or
how to undertake a task. A tool is something used to undertake a task.
Guidelines and tools can include outputs of other tasks.
.6 Techniques
The Techniques section lists the techniques that can be used to perform the
business analysis task.
.7 Stakeholders
The Stakeholders section is composed of a generic list of stakeholders who are
likely to participate in performing that task or who will be affected by it. The
BABOK® Guide does not mandate that these roles be filled for any given
initiative.
.8 Outputs
The Outputs section describes the results produced by performing the task.
Outputs are created, transformed, or changed in state as a result of the successful
completion of a task. An output may be a deliverable or be a part of a larger
deliverable. The form of an output is dependent on the type of initiative
underway, standards adopted by the organization, and best judgment of the
business analyst as to an appropriate way to address the information needs of key
stakeholders.
As with inputs, an instance of a task may be completed without an output being
in its final state. Tasks that use a specific output do not necessarily have to wait
for its completion for work within the task to begin.
1.4.4 Underlying Competencies
Underlying competencies reflect knowledge, skills, behaviours, characteristics,
and personal qualities that help one successfully perform the role of the business
analyst. These underlying competencies are not unique to the business analysis
profession. However, successful execution of tasks and techniques is often
dependent on proficiency in one or more underlying competencies.
Underlying competencies have the following structure:
• Purpose
• Definition
• Effectiveness Measures
Structure of the BABOK® Guide Introduction
8
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e.
.1 Purpose
The Purpose section describes why it is beneficial for business analysts to have this
underlying competency.
.2 Definition
The Definition section describes the skills and expertise involved in the application
of this competency.
.3 Effectiveness Measures
The Effectiveness Measures section describes how to determine whether a person
is demonstrating skills in this underlying competency.
1.4.5 Techniques
Techniques provide additional information on ways that a task may be performed.
The list of techniques included in the BABOK® Guide is not exhaustive. There are
multiple techniques that may be applied alternatively or in conjunction with other
techniques to accomplish a task. Business analysts are encouraged to modify
existing techniques or engineer new ones to best suit their situation and the goals
of the tasks they perform.
Techniques have the following structure:
• Purpose
• Description
• Elements
• Usage Considerations
.1 Purpose
The …
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Key outcomes: The approach that you take must be clear
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*** In Task section I’ve chose (Economic issues in overseas contracting)"
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After the components sending to the manufacturing house
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Summary & Evaluation: Reference & 188. Academic Search Ultimate
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We can mention at least one example of how the violation of ethical standards can be prevented. Many organizations promote ethical self-regulation by creating moral codes to help direct their business activities
*DDB is used for the first three years
For example
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With covid coming into place
In my opinion
with
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CliftonLarsonAllen LLP (2013)
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After viewing the you tube videos on prayer
Your paper must be at least two pages in length (not counting the title and reference pages)
The word assimilate is negative to me. I believe everyone should learn about a country that they are going to live in. It doesnt mean that they have to believe that everything in America is better than where they came from. It means that they care enough
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Losinski forwarded the article on a priority basis to Mary Scott
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