US Treasury implements new money laundering regulations targeting residential real estate transactions involving legal entities and trusts.
The US Treasury Department has implemented new regulations targeting money laundering in the residential real estate market, focusing on transactions involving legal entities, trusts, and shell companies. Real estate professionals and investment advisers must now report detailed information about parties involved in such transactions, including names of sellers and beneficiaries, specifics about properties and payments. These measures aim to close regulatory gaps and prevent criminals from exploiting the US real estate and investment sectors.
August 28, 2024
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