Corporate Compliance Insights: Show Me (Where You Got) the Money: New AML Rules Promise to Upend Real Estate

Exiger‘s Miles Kellerman covers the new legislation aimed at preventing money laundering in real estate.

At least $2.3 billion was laundered through U.S. real estate between 2015 and 2020, 82 percent of which involved the use of legal entities to mask ownership

MILES KELLERMAN
Associate Director, Exiger

Financial Crimes Enforcement Network (FinCEN) has been considering numerous approaches to improve reporting and monitoring requirements surrounding real estate transactions. Congress is reviewing the ENABLERS Act and the KLEPTO Act as potential new legislation that could make seismic changes to the industry.

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