real estate money laundering | Page 5

Regulating ‘Acres of Money Laundering’: Time for FinCEN to craft a robust rule for transparency in the real estate sector

February 24, 2022

On December 6, U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) published an Advance Notice of Proposed Rulemaking (ANPRM) to solicit public comment for Anti-Money Laundering regulations in real estate transactions.

FACT Welcomes Treasury Department Action to Counter Money Laundering through U.S. Real Estate

February 22, 2022

WASHINGTON, DC – In a comment letter submitted yesterday, the FACT Coalition welcomed action by the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) to bring the U.S. real estate sector under the purview of federal anti-money laundering safeguards. The FACT Coalition offered guidance on how FinCEN should craft a rulemaking that would introduce permanent, nationwide standards to address illicit financial risks in the sector.