US Targets Money Laundering in All-cash Home Sales in Miami, Manhattan

The United States is going after international criminals who use real estate to launder money by ordering title insurance companies to report the identities of people making all-cash purchases of high-end real estate in Miami and Manhattan. The Financial Crimes Enforcement Network, an arm of the U.S. Treasury, said on Wednesday it is concerned that individuals buy residential real estate in cash through shell companies to hide their assets and veil their identities. Both cities are...

© La Voix de l'Amérique - mercredi 13 janvier 2016