In a broad show of support for increased scrutiny of foreign real estate buyers in the United States, 17 nonprofit organizations on Tuesday urged the Treasury Department to require that the real estate industry verify the identities of buyers and screen them for potential money-laundering risk.
Shruti Shah, a vice president for one of the organizations, Transparency International-USA, said in a telephone interview, “The U.S. should not be providing a red carpet for dirty money.” Read more