The days of mysterious shell companies plunking down millions of dollars for homes in Miami-Dade County could be over.
The Financial Crimes Enforcement Network (FinCEN) issued a temporary order that aims to end the secrecy in $1 million-plus cash deals in Miami-Dade and Manhattan to combat potential money laundering. Once the rule takes effect, title insurance companies would have to identify the natural persons behind the companies in such residential deals to law enforcement. The information likely…
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