Nations are increasingly trying to crack down on money laundering schemes that center on real estate transactions, according to a report by Mansion Global. The report notes that real estate money laundering schemes around the world are used to facilitate around $1.6 trillion a year in illegal cash flow worldwide. “Real estate has always been
Senators call for more all-cash deals to be investigated to combat money laundering
October 11, 2018 by
U.S. government authorities have been investigating for several years now whether or not some foreign buyers are using shell companies to purchase luxury real estate in the country for money laundering purposes. Now, lawmakers are calling on the government to do more to determine how prevalent such crimes are, and how to put a stop
U.S. government plans to scrutinize luxury real estate deals more closely
January 15, 2016 by
The US Treasury Department has unveiled plans to keep track of so-called “secret buyers” of luxury real estate, amidst concerns that criminals may be using such properties to launder money.
