Photo: Velishchuk via Adobe Stock FinCEN's Proposed Rule on Residential Real Estate Transactions
In their Transactional Real Estate column, Peter Fisch and Salvatore Gogliormella discuss FinCEN's recently proposed rule on non-financed residential real estate transactions which "builds on the U.S. government's longstanding focus on the money laundering risks posed by the residential real estate market."
March 05, 2024 at 10:00 AM
10 minute read
On Feb 7, 2024, the Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) published, and solicited public comment on, a proposed rule that is intended to "combat and deter money laundering by increasing transparency in the U.S. residential real estate sector" (the "proposed rule"). The proposed rule builds on the U.S. government's longstanding focus on the money laundering risks posed by the residential real estate market.
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