U.S. Treasury expands hunt for money laundering in real estate
29 Jul 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 companies that buy high-end houses with cash will still cover New York City’s Manhattan and Miami-Dade County, the two focus areas announced in January. But starting in August, it will also reach into New York’s other boroughs, Florida’s Broward and Palm Beach counties, and Los Angeles, the San Francisco Bay area and San Diego, California, as well as San Antonio, Texas.

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