AML/CFT Act 2009, see ss 5 and 6. 29. Anti-Money Laundering and Countering Financing of Terrorism (Definitions) Regulations 2011, Reg 17: Inclusion: trust and company service providers. 30. Real Estate Agents Act 2008, public Act No 66 of 2008 - where transaction means any 1 or more of...
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FinCEN Proposes AML Compliance Obligations for Non-Financed Real Estate Transactions FinCEN has proposed to expand anti-money laundering requirements on a national basis to include non-financed residential real estate transactions in which a transfer of real property would take place between...
Structuring 1031 Like-Kind Exchanges: New Final IRS Regulations Regarding "Real Property" Permanent Structures, Offshore Platforms and Pipelines, Intangible Assets;... April 27, 2021 • CLE • CLE On-Demand This CLE course will examine the impact of tax reform on like-kind exchanges under...
developed to facilitate the management and compliant transfer of tokenized assets, including real estate properties. These frameworks provide additional features and mechanisms to ensure compliance with relevant laws and regulations, such as know-your-customer (KYC) and anti-money laundering (AML) ...
When we refer to a "Citi Company" or "Citi Companies" we mean another entity of our corporate group, including such Citi Companies' officers, directors, employees, contractors, temporary staff, agents, representatives, and professional advisers. This includes the Citi Companies that can be found ...
1. What are DeFi lending platforms? DeFi lending platforms are blockchain-based applications that allow users to lend and borrow digital assets directly, without the need for traditional financial institutions like banks. They usesmart contractsto automate and secure transactions, offering more transparen...
Although FinCEN has reported for many years on money laundering and illicit finance through real estate transactions,3the agency to date has taken an incremental approach to regulating the real estate sector and has not imposed comprehensive AML/CFT regulations for the real estate industry. In...
Although there is a common misapprehension that real estate crimes are opportunistic and unplanned, a glimpse of the dark side indicates the need for AML solutions.
They monitor agents’ professionalism and knowledge of the market to ensure honest, fair and professional customer interactions in real estate transactions. CIREBA members are required to attend regular information and training courses to ensure that they are current with any new regulations and latest...