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Home Estate Plans

Preparing for FinCEN Real Estate Reporting

by TheAdviserMagazine
9 months ago
in Estate Plans
Reading Time: 1 min read
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Preparing for FinCEN Real Estate Reporting
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For years, the Department of the Treasury was concerned that all-cash residential real estate transactions offered an opportunity to launder illicit funds.  Bank-financed purchases already fall under lender Anti-Money Laundering (“AML”) obligations, but transfers that bypass institutional financing historically received far less scrutiny. Financial Crimes Enforcement Network (“FinCEN”)’s new residential real estate reporting requirement closes […]



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