UNDERSTANDING MONEY LAUNDERING THROUGH REAL ESTATE TRANSACTIONS

A briefing from the EU Parliament Research Service on 4th February says that a number of techniques are used, namely cash or opaque financing schemes, overvalued or undervalued prices, and non-transparent companies and trusts or third parties that act as legal owners.  It also says that, in order to assess the existence of a money-laundering risk, concrete assessments of transactions and a customer’s situation provide indications that help raise red flags and trigger reporting obligations.

http://www.europarl.europa.eu/RegData/etudes/BRIE/2019/633154/EPRS_BRI(2019)633154_EN.pdf

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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