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FinCEN Targets Money Laundering in Real Estate Deals

Joe Mont | May 6, 2015

Expect a greater focus on the use of real estate holdings as a vehicle for money laundering, Jennifer Shasky Calvery, director of the Treasury Department’s Financial Crimes Enforcement Network, said during a speech Wednesday in San Francisco.

A series of articles published by The New York Times in February uncovered the use of shell companies to purchase high-value real estate at the Time Warner Center in New York City. In response, a coalition of non-profit organizations, among them Transparency International,...

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