Feb 24, 07:00 PM

FinCEN Proposes New Rules to Combat Money Laundering in Residential Real Estate Transactions

The Financial Crimes Enforcement Network (FinCEN) has proposed new reporting requirements for residential real estate transactions, aiming to combat money laundering. The proposed rules target professionals closing all-cash deals with entities and trusts, requiring anti-money laundering compliance programs for investment advisers. The regulations seek to streamline Suspicious Activity Reports (SARs) in real estate transactions, with a focus on cash transfers.

#Financial Crimes Enforcement Network #Suspicious Activity Reports

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