U.S. TREASURY News:Aug. 22, the U.S. Treasury’s Financial Crimes Enforcement Network’s (FinCEN) announced that it will renew and expand an order aimed at cracking down on bad actors laundering money through high-end US real estate.
The Geographic Targeting Orders (GTOs) could also target potentially illicit money coming from countries under US sanctions, such as Russia and North Korea.
Global Witness welcomes this decision as another small but significant step towards stemming the vast tide of illicit flows entering the US through real estate purchases.
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