Money Laundering and Real Estate

MONEY LAUNDERING IN THE COMMERCIAL REAL ESTATE INDUSTRY
An Assessment Based Upon Suspicious Activity Report Filing Analysis

The Financial Crimes Enforcement Network (FinCEN) conducted a study of Suspicious Activity Reports (SARs) filed with FinCEN over a 10-year period that involved suspected money laundering and related illicit financial activity in the commercial real estate sector. This report focuses on certain trends in the reporting of suspicious activity in key businesses and professions in the commercial real estate sector. The report also provides summaries of SARs that were reviewed for this study as well as providing a range of examples of activities and transactions that may be indicative of money laundering and associated illicit financial activity.

Financial Crimes Enforcement Network
December 2006