Real Estate in 2024 – Anticipating a Crackdown on Corruption & Fraud

Real estate in the United States has long been a popular channel for corrupt actors seeking to launder illicitly obtained funds. As part of the Biden administration’s 2021 Strategy on Countering Corruption, a long-awaited proposed rule from the Treasury Department that is slated to take effect in early 2024 will seek to address that glaring loophole in US anti-money laundering (AML) regulations.