TRACKING THE MONEY: THE FED CRACKS DOWN ON MONEY LAUNDERING

After investigations showed that more than 30% of cash purchases of real estate from foreign buyers in select markets may have been tied to money-laundering schemes, The Financial Crimes Enforcement Network (FinCEN) is expanding its investigation to require reporting on cash purchases involving wire transfers.  

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Keith Kaplan

CalBRE #01933707
Sothebys International Realty
9255 Sunset Blvd.
West Hollywood, CA   90069

keith.kaplan@sothebyshomes.com
310-646-7791

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