New Money Laundering Rules Make Agents Report Cash Home Sales
The Treasury Department has issued regulations aimed at making it harder for criminals to launder money by paying cash for residential real estate.
Treasury Proposes New Anti-Money Laundering Rules for Investment Advisers
The Biden administration is rolling out new recordkeeping rules for U.S. investment advisers in its continued effort to clamp down on money laundering, illicit finance and fraud in the American financial system.
Green Sometimes Raises Red Flags When It’s Cash
Roughly 1.21 million residential real estate sales were likely processed without any money laundering reporting. FinCEN wants to put a dent in that figure, and has named Boston as a region of concern.
FinCEN Proposal Would Require Names of Company’s Owners
The U.S. Treasury Department, as part of its efforts to combat corruption and terrorism, proposed a new rule Tuesday that requires companies to identify who owns and controls them, rather than the names of the people who formed the company.
FinCEN Proposal Would Crack Down on Anonymous All-Cash Deals
In a move that the Financial Crimes Enforcement Network said would help combat money laundering in real estate, the federal agency plans to expand the Bank Secrecy Act to require information about the individuals behind all-cash real estate transactions.
Lynn Man Pleads Guilty to Role in $1.4M Bank Fraud
A Lynn man pleaded guilty Thursday in federal court in Boston in connection with receiving and laundering approximately $1.4 million fraudulently obtained from a Korean company.
‘Rigorous and Detailed Process’ Behind Banking Marijuana
Up until very recently, it looked like the first recreational marijuana dispensary in Massachusetts would open without a financial institution to bank it.
