FinCEN extended the comment period for a proposed rulemaking concerning potential Bank Secrecy Act information collection and reporting requirements "on certain persons participating in transactions involving non-financed purchases of real estate."
As previously covered, the Advance Notice of Proposed Rulemaking ("ANPR") addresses "the systemic money laundering vulnerabilities presented by the U.S. real estate sector," specifically, "the ability of illicit actors to launder criminal proceeds through the purchase of real estate."
Comments are now due by February 21, 2022.
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