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U.S. Extends Its Search For Dirty Money In Real Estate

Saturday, February 25, 2017   (0 Comments)
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The U.S. Treasury Department said it will extend its search for criminals who seek to launder money by buying U.S. real estate.

The U.S. Treasury Department Financial Crimes Enforcement Network (FinCEN) will extend for 180 days a rule ordering title insurance companies to report to authorities all-cash purchases in parts of California, Texas, Florida and New York, the agency said in a statement Thursday.

The order mandates that the title companies identify the real purchaser, even when the sale is made through shell companies. [more]

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