FinCen Takes Aim at Real Estate Secrecy in Manhattan and Miami

Keith Pattiz and Gregg Fierman wrote this bylined article about new Treasury Department rules for reporting on all-cash, high-end real estate transactions in Manhattan, New York, and Miami-Dade County, Florida. Because the rules are intended to uncover money laundering or other fraudulent schemes, the authors wrote that for “law-abiding real estate purchasers, there should not be cause for concern regarding the new reporting requirement.”