Real Estate Industry

Investing illicit funds into real estate is common, because houses provide shelter for criminals; rural properties can be used for growing and storing drugs. The proceeds of crime can be used to pay deposits/down payments, mortgages, construction costs. Using nominees to hide the beneficial owner is common.

Buying and selling real estate is used in layering, or integration for example, where a holiday resort can be purchased.

Escrow accounts are used to hold funds for the purchase, and these accounts have many deposits and withdrawals related to the sale. They can be used to disguise criminal transactions that look like legitimate business transactions related to the sale or purchase of a property. As a result escrow accounts require specific monitoring.

Next Topic: Reverse Flip

Previous Topic: Trust and Company Service Providers

Get the Book & Pass First Time!

Includes all the study notes, the mock exam and detailed explainations of the answers

Get the AML Book & Pass First Time - Instant PDF Download