Money laundering money through residential real estate involves turning the proceeds of crime into the use or ownership of real property assets. For example, a criminal may use illicit funds to outright purchase or to make monthly rental payments on real property. We will identify several transactional typologies and associated illicit activities that may be perpetrated by individuals or groups seeking to launder funds via residential property transactions.
The second part of the program will look at mortgage loan fraud itself. How customers try to hide debt, income, and other techniques to qualify for a loan that would be fraudulent.
What You’ll Learn
- Structuring activities with residential real estate
- Tax evasion
- Fraud
- Identity theft
- Use of shell Companies
- All cash purchases
- Misrepresentation of income/assets/debts
- Forged/fraudulent documents
- Occupancy fraud
- Appraisal fraud
- ID fraud
- Straw buyers
Who Should Attend
BSA Officers, BSA Staff, Security, Lending, and Training.