Finanse publiczne · 10/04/2003

Financial Crimes Enforcement Network; Anti-Money Laundering Program Requirements for “Persons Involved in Real Estate Closings and Settlements”

FinCEN is in the process of implementing the requirements delegated to it under the USA Patriot Act of 2001, in particular the requirement pursuant to section 352 of the Act that financial institutions establish anti-money laundering programs. The term "financial institution" includes "persons involved in real estate closings and settlements." FinCEN is issuing this advance notice of proposed rulemaking ("ANPRM") to solicit public comments on a wide range of questions pertaining to this requirement, including how to define "persons involved in real estate closings and settlements," the money laundering risks posed by such persons, and whether any such persons should be exempted from this requirement.