Thursday, October 21, 2021
78.1 F
Fort Worth

Regulators to dig deeper into US luxury property deals

🕐 1 min read

NEW YORK (AP) — Federal regulators searching for money laundering schemes are digging deeper into who is behind luxury real estate purchases in certain parts of the U.S.

The Financial Crimes Enforcement Network said Tuesday it’s adding wire transfers to the list of all-cash buys it monitors during certain types of high-end deals.

Previous orders on such monitoring covered property purchased using methods such as cashier’s checks or money orders.

Regulators want to unmask the true owners behind shell companies often created to buy luxury properties with cash.

The monitoring will be done on real estate deals in New York City; three Florida counties including Miami; Honolulu; the Texas county that includes San Antonio; and five counties in California, including Los Angeles.

Related Articles

Our Digital Sponsors

Latest Articles

Texas Rangers
Fort Worth Business Press Logo
This advertisement will close in
Click here to continue to Fort Worth Business Press

Not ready to subscribe?

Try a few articles on us.

Enter your email address and we will give you access to three articles a month, to give us a try. You also get an opportunity to receive our newsletter with stories of the day.

This field is for validation purposes and should be left unchanged.

Get our email updates

Stay up-to-date with the issues, companies and people that matter most to business in the Fort Worth.

  • Restaurants
  • Technology
  • and more!

FWBP Morning Brief

FWBP 5@5

Weekend Newsletter

  • Banking & Finance
  • Culture
  • Real Estate