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What is Money Laundering?

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Criminals and criminal syndicates regularly utilize the services of professional money launderers to assist them in “cleaning” money. These are individuals or organizations who do not participate in the crimes which resulted in the illegal proceeds. They only launder the money for a fee. They are typically paid a commission or percentage from the funds they clean.

Al Capone is one of the most famous professional money launderers. You may not know that he cleaned much of the dirty money through actual laundromats. Hence the phrase money laundering.

Today, professional money launderers read more

Real Estate Scams: What Are the Warning Signs?

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By Lisa A. Tyler
National Escrow Administrator

An excerpt from the Federal Bureau of Investigation’s (FBI’s) 2022 Congressional Report on Business Email Compromise (BEC) and Real Estate Wire Fraud reveals a recommendation to change the Uniform Commercial Code (UCC) governing the banking industry to prevent wire fraud. The much-needed recommendation is contained in the article titled “UNIFORM commercial code issue.”

Settlement agents are experts in completing real estate transactions. They know how to clear up clouds on title, follow written instructions, prorate taxes, read more

Introduction to Money Laundering

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In recent years, various governmental entities believe they have identified vulnerabilities in the purchase and sale of U.S. real property, which makes it possible for criminals to take advantage of real estate money-laundering schemes.

It is believed the purchase of real estate, often combined with methods to conceal a purchaser’s identity and source of funds, can allow criminals to take the ill-gotten proceeds and either park the wealth or integrate the proceeds into the legal economy.

Escrow and title companies can do their part to help the appropriate government authorities track certain read more

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