Federal Anti-Money-Laundering Rule Cracks Down on All-Cash Home Purchases—Here’s Who Will Be Affected
Reported by SNEJANA FARBEROV (Excerpt shared below. To read full report, go to: https://www.realtor.com/news/trends/fincen-money-laundering-rule-crackdown-all-case-home-purchases/) The U.S. Treasury Department’s financial crime-fighting arm has introduced a new rule aimed at cracking down on money laundering in all-cash home purchases—but everyday buyers shouldn’t be alarmed. The federal regulation, formally known as the “Anti-Money Laundering Regulations for Residential Real Estate Transfers,” requires […]