Real estate professionals who handle closings and settlements will need to file a report to the Treasury when an all-cash residential sale is made to shell companies, trusts and legal entities
The US Treasury Department is poised to enact expanded reporting measures on luxury home sales, putting an end to anonymous purchases that have enabled oligarchs, terrorists and others
In some cities, most cash sales will have to be reported to regulators
The enforcement network also revised its targeting orders to include a 'broader range of transactions'
The rules will remain in place through August 22, 2017
Protect the investments of your all-cash homebuyers
The Financial Crimes Enforcement Network has expanded its LLC rules
The laws designed to unveil LLCs and detect money laundering are in effect
More onus is on real estate agents to know who their cash-buyer clients are
Protect yourself from being part of an illegal transaction
Report: California a hotbed for financial crimes
Employee tipped borrower to mortgage fraud report
3 of 4 mortgage fraud reports involve pre-2008 activity
FBI, FinCen report growth in loan mod, short-sale scams
Number of suspected cases remains at historic high