The US real estate sector is one of the largest in the world, with an estimated value of $113.6 trillion in 2023.
Over the last decade, US authorities have expressed concerns about the role played by illicit finance in high-end residential purchases. International bodies such as the Financial Action Task Force (FATF) have also expressed concern. In particular, FATF highlighted real estate agents’ lack of regulatory coverage in the Bank Secrecy Act (BSA), the country’s main AML/CFT legislation.
As a result of these headwinds, authorities in the US continue to take steps to regulate and oversee the real estate sector more effectively. This guide explores the latest changes, offering practical steps for firms to benchmark their own performance. Download your copy to explore:
- Key financial crime risks in real estate.
- The latest regulatory trends, including the implications of the Corporate Transparency Act.
- A checklist - from effective controls to technology - firms can use to assess their AML/CFT programs.
Download your guide
Disclaimer: This is for general information only. The information presented does not constitute legal advice. ComplyAdvantage accepts no responsibility for any information contained herein and disclaims and excludes any liability in respect of the contents or for action taken based on this information.
Copyright © 2023 IVXS UK Limited (trading as ComplyAdvantage).