Regulations to stem money laundering through real estate deals have been criticized as being too lax and with little impact. Recently, the Treasury Department released a revised geographic targeting order (GTO) that is believed will close the loopholes by extending its LLC disclosure rules to deals that involve wire transfers. The rule covers real estate deals in New York City, Florida, California, Texas and Honolulu, Hawaii and applies to cash deals above $1.5 million. As a complement, finCEN also published an advisory for financial institutions alerting them to money laundering risks associated with real estate.
A commercial building/property inspector will be able to help you discover underlying risks that may be hidden in potential properties in which you may invest. Call PureFusion Consulting Building Inspections with your questions about our detailed process for inspecting commercial, industrial, retail or multi-family buildings in Los Angeles, Riverside or Orange Counties.