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If you have large piles of money to launder, one way is to build a rental property and pay all the materials/contractors in cash.

But now harder to do that with 5x the bills. Or suddenly stuck with 500s that nobody wants to take.

Wait... how do you explain the appearance of the building with no expenses shown except "from cash"?

There are expenses, they're just not the right expenses.

At least in Canada, the city cares about building permits, but doesn’t do any checking on how the building/construction was paid for.

Banks don’t really question rent cheque’s coming in every month, or a large bank transfer coming from your lawyer for the sale of property.