Department of the Treasury

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U.S. expands investigation into money laundering by foreign cash buyers 

Jul 27, 2016By

The federal government revealed Wednesday that its investigation into foreign buyers using high-end U.S. real estate as a means to launder money found that potentially illicit activity is behind a “significant” portion of the cash transactions in Manhattan and Miami, and plans to expand the investigation into Los Angeles, San Francisco, and several other areas.

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