6th October 2016
In 2015, the Supreme Court of Canada ruled that, unlike other professionals such as bankers and real estate agents, lawyers do not have to report to Canada’s anti-money laundering agency, Fintrac. Lawyers in B.C. won that case based on a constitutional argument about solicitor-client privilege, and the argument that law societies already regulate lawyers… Read More
16th September 2016
New Zealand will extend its anti-money laundering laws to cover real estate agents and other professions amid fears the country has become a soft target for illegal fund flows that have also helped inflate the property market. Soaring property prices have become a hot issue among the New Zealand public… Read More
14th September 2016
Canada’s anti-money laundering agency conducted on-site examinations of more than 800 real estate companies over four-and-a-half years and found “significant” or “very significant” deficiencies during 60 per cent of those visits, new data shows. A document obtained by The Canadian Press through an Access to Information request shows that Fintrac… Read More
14th September 2016
The Australian government is reviving long-stalled plans to extend anti-money laundering and counter-terrorist financing laws to capture lawyers, accountants, real estate agents and jewellers, Justice Minister Michael Keenan said. The law reforms have been repeatedly shelved since mid-2007 after opposition from some of the affected sectors – most notably the… Read More
11th September 2016
Police research concludes a loophole is seeing lawyers, accountants and real estate agents being increasingly used to launder $1.6 billion in dirty money annually – including into New Zealand’s booming property markets. “Recent police investigations have exposed the fact that professional services and the real estate sector are closely linked… Read More
10th August 2016
It may be a seller’s market for houses in Texas, but some of the bigger deals are being done with dirty money, federal officials say. The Treasury Department is now hoping to expose some of those buyers and sellers who’ve turned one metro area into a haven for money laundering. Read More
3rd August 2016
A new federal government crackdown on money laundering in real estate deals has cast suspicion on over a quarter of the all-cash luxury home purchases transacted via shell companies in Manhattan and Miami, the Treasury Department revealed this past week. This discovery is prompting officials to expand the program to… Read More
1st August 2016
Brazilian judge has accepted charges against former President Luiz Inacio Lula da Silva for allegedly obstructing a corruption investigation involving state-run oil giant Petrobras, clearing the way for one of the country’s best-known political figures to stand trial. The decision published on Friday names Silva and five others as co-conspirators… Read More
29th July 2016
The U.S. Treasury on Wednesday expanded its hunt for international criminals who launder money through real-estate deals by ordering title insurance companies to report all-cash buyers’ identities in parts of California and Texas, as well as greater swaths of New York and Florida. The program to unmask individuals behind shell… Read More
27th July 2016
Three of former Libyan dictator Colonel Muammar Gaddafi’s henchmen have been found living comfortably in Britain despite being wanted in Tripoli for allegedly embezzling millions from the war torn state. The three men feature on a list of former regime figures linked to the bloody suppression of the Libyan uprising… Read More