Secret buyers of high end real estate & AML regulations


It has always been a legal practice to buy luxury properties in the U.S without revealing buyers’ details (ex: name).

Now, the treasury department has mandated collection of such details as a part of its anti money laundering exercise, considering roughly $ 5 million were directed to shell companies ever since 2000.

A bubble within housing market growing at a rapid pace does not contribute to a stable macro-economy, and with declining prices of oil economies do experience modest contraction.

Thank you,

Rajesh Rachamalla


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