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IPFS News Link • Treasury

US set to unveil long-awaited crackdown on real estate money laundering

• Reuters

The long-awaited rule is expected to require that real estate professionals such as title insurers report the identities of the beneficial owners of companies buying real estate in cash to the Treasury's Financial Crimes Enforcement Network (FinCEN).

FinCEN is slated to propose the rule sometime this month, according to its regulatory agenda, though the timeline could slip, said two people briefed on the developments. Anti-corruption advocates and lawmakers have been pushing for the rule, which will replace the current patchwork reporting system.

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Comment by PureTrust
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This is similar to Biden and his team - accuse Trump while doing far worse than the accusations they bring than Trump could ever think of doing. FinCEN and the banking system, trying to shut down competition to their money laundering. Their money laundering fills the whole world, except for a few forsaken countries that are unwilling to join the International Monetary Fund, and reap the rewards of poverty and war for not joining.