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On August 2, 2021, the Global Financial Integrity published an incisive report showing serious gaps in the application of money laundering laws in the United States with respect to real estate and making a number of recommendations.[1] The report compares U.S. anti-money laundering laws concerning real estate to international and comparative law standards. Normally, a report by a civil society organization would not be so influential. However, the quality of the research, analysis, the credentials of the authors, and the insights of the report are quite formidable.
[1] Lakshmi Kumar & Kaisa de Bel, Acres of Money Laundering: Why U.S. Real Estate is a Kleptocrat’s Dream (Global Financial Integrity Aug. 2021) https://gfintegrity.org/report/acres-of-money-laundering-why-u-s-real-estate-is-a-kleptocrats-dream.