( ) -q-23- UNDATED (Correspondent Jeremy House) “for money laundering.” The Treasury Department has issued new regulations aimed at making it harder for criminals to launder money by paying cash for residential real estate. [CutID: <Cuts> MONEY-LAUNDERING-house-q-THUam.mp3 Time: 23s Title: MONEY-LAUNDERING-house-q-THUam Out-cue: for money laundering] TAG: Correspondent Jeremy House reporting. —————————— VERBATIM: Under the rules, […]
Audio
New rules make it harder for criminals to launder money by paying cash for homes
( ) -q-23- UNDATED (Correspondent Jeremy House) “for money laundering.”
The Treasury Department has issued new regulations aimed at making it harder for criminals to launder money by paying cash for residential real estate.
[CutID: <Cuts> MONEY-LAUNDERING-house-q-THUam.mp3
Time: 23s
Title: MONEY-LAUNDERING-house-q-THUam
Out-cue: for money laundering]
TAG: Correspondent Jeremy House reporting.
——————————
VERBATIM: Under the rules, investment advisors and real estate professionals will be required to report cash sales of residential real estate to legal entities, trusts and shell companies. The new disclosure rules come as part of an ongoing effort to combat money laundering and the movement of dirty money through the American financial system. All-cash purchases of residential real estate are considered a high risk for money laundering.