Treasury Secretary Janet Yellen said the new reporting rules will “close critical loopholes in the U.S. financial system” that had allowed criminals to launder money through all-cash residential real estate transactions.
Source: Inman News
Treasury finalizes new rules for luxury cash sales reporting
Published in all cash transactions, Janet Yellen, luxury, luxury lens, money laundering, National Association of Realtors (NAR), News Brief, Tori Syrek and U.S. Department of the Treasury
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