News

The U.S. Treasury Department's Financial Crimes Enforcement Network received more than 140 responses to a request the bureau made in December for input on possible strategies for permanently regulating the real estate sector for anti-money laundering purposes. The commenters, primarily title insurance firms, attorneys, credit unions and the industry groups that represent them, largely sparred over which entities and professionals among them are best placed to provide useful information to FinCEN on suspicious purchases of U.S. properties, and each attempted to shift the weight of any new obligations onto the others. A large number of submissions comprised a template letter...