Regulatory Alerts2003-02-27
Added
Anti-Money Laundering Program Requirements for Persons Involved in Real Estate Closings and Settlements
The Financial Crimes Enforcement Network issues an advance notice of proposed rulemaking to solicit public comments on implementing section 352 of the USA Patriot Act for persons involved in real estate closings and settlements. The notice seeks input on defining the affected persons, assessing money laundering risks, determining potential exemptions for specific categories, and structuring anti-money laundering program requirements commensurate with entity size and activities. Written comments must be submitted by June 9, 2003.
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