Money Laundering Enters Real Estate
In this article, Jay Ryan, Executive Vice President at Accuity discusses measures U.S. cities are taking to combat money laundering and how the scheme has evolved and became a successful tool for identifying real estate money-laundering risks, focusing on Geographic Targeting Orders and assessing its performance since its introduction in 2016 by FinCEN.
The purchase of expensive, high-end residential properties through opaque corporate structures in some U.S. cities, notably New York and Miami, had been an issue of growing…
