US: Offshore money, bane of democracy
07 Apr 2017

Almost one-third of top-end property purchases in America’s biggest cities are suspect, according to the Financial Crimes Enforcement Network, the body at the Treasury Department whose task it is to protect the United States from money laundering. The government recently granted FinCEN authority to peek behind the veil of secrecy provided by offshore shell companies, and what the bureau has seen is disturbing: There is a flood of dirty capital pouring into United States real estate, and it isn’t clear who owns it.

 

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