US Treasury Implements New Rules to Combat Real Estate Money Laundering

New regulations require reporting of cash purchases by legal entities to curb financial crimes and increase market transparency.

Real estate professionals and investment advisers must report detailed transaction information.
Rules target cash purchases by trusts and shell companies, not individual buyers or financed transactions.
Treasury Secretary Janet Yellen emphasizes closing regulatory gaps to prevent exploitation.
The initiative is part of a broader strategy to address illicit funds in the American financial system.
FACT Coalition and other advocates praise the regulations as essential safeguards against financial secrecy.