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Treasury rolls out residential real estate transparency rules to combat money laundering

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Published 3:55 PM

By FATIMA HUSSEIN
Associated Press

WASHINGTON (AP) — The Biden administration wants to make residential real estate transactions more transparent — by unmasking the owners of all-cash purchases as part of its ongoing effort to combat money laundering and the movement of dirty money through the American financial system. Treasury’s Financial Crimes Enforcement Network proposed a regulation on Wednesday that would require some real estate professionals to report information to the agency about non-financed transfers of residential real estate to legal entities, trusts and shell companies.

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