Loopholes In FinCEN's Luxury Real Estate Rules

Law360, New York (March 28, 2016, 10:19 AM EDT) -- Recently enacted rules targeting the flow of dirty money into luxury real estate include loopholes that may be easily exploited by potential violators. The U.S. Treasury's Department's Financial Crimes Enforcement Network issued the regulations in an effort to block criminal proceeds from entering the U.S. economy through real estate purchases. The rules require title insurance companies to identify the beneficial owners of buyers engaging in all-cash transactions. The regulations, which went into effect on March 1, apply to real estate transactions exceeding $3 million in New York City and $1 million in Miami....

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!