Virtual Event

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Event Date Wed Sep 15 EDT (10 months ago)
Location Virtual Event
Region All

In recent years, U.S. regulators have attempted to crack down on illicit financial flows into real estate, issuing Geographic Targeting Orders and boosting awareness of this vulnerability in the US AML regime. Has it worked, or is U.S. real estate still a safe haven for kleptocrats and financial criminals the world over?

Find out in this presentation exploring the findings of a fascinating new report from Global Financial Integrity (GFI), telling the story of why U.S. real estate continues to remain a favored destination for illicit activity.

GFI built a database of more than 100 real estate money laundering cases from the U.S., UK, and Canada, reported between 2015 – 2020. The database and accompanying regulatory analysis in this report provide conclusive evidence that the current U.S. regulatory approach, using temporary and location- specific Geographic Targeting Orders (GTOs), has critical shortcomings.

In this session, an expert from GFI guides you on key findings from the report and what they mean for financial crime risks in the U.S., including:

• Why U.S. real estate remains an attractive destination for corrupt public officials, sanctions evaders, and others
The key role played by gatekeepers including attorneys, real estate agents, investment advisers, and employees of financial institutions in facilitating real estate money laundering
• How the majority of cases of involve areas outside of those covered by GTOs, indicating the limits of geographic targeting
• The role of commercial real estate in concealing illicit financial flows
• How the use of shell companies highlights the need for robust beneficial ownership registries
• And much more


2021 Speakers


Lakshmi Kumar
Policy Director, Global Financial Integrity

Kaisa de Del
Policy Analyst, Global Financial Integrity