New Federal Rules Relevant to Property Buyers

As of June 23, 2008, federal regulations intended to fight money laundering and terrorist financing create new obligations for REALTORS® to collect additional information from their clients.
Why?
Money laundering and terrorism are threats that should be taken seriously. With this in mind, governments across the world have taken action to help prevent it. Because criminals involved in this type of activity can use seemingly legal transactions to camouflage their true purpose, governments have taken steps to filter out legal activity from illegal activity.

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