Money Laundering in Commercial Real Estate Industry: FinCEN Sees Growth in Suspected Money Laundering: "The Financial Crimes Enforcement Network (FinCEN) today released an assessment showing considerable growth in money laundering-related suspicious activity reporting associated with the commercial real estate industry. An examination of a sampling of Suspicious Activity Reports (SARs) filed over a 10-year period found that the growth in filings began to accelerate in the 2003-2004 period. This increase correlates with an expansion of the real estate market and closely tracks similar trends seen in FinCEN’s recently-issued Mortgage Loan Fraud study."
Thursday, December 07, 2006
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