Real estate blog entries tagged with money laundering

Blog entries tagged with "money laundering":

money laundering: Why are Vancouver realtors checking even their mother's identification? - 07/11/08 07:16 PM

Well money laundering seems to now be affecting all of us! Now, even when a client is not paying with cash, we need to take steps to assist the government in dealing with this problem. A lot of our clients are people we have known for a long time...however we are … (0 comments)

money laundering: The USA Patriot Act! Happy 4th To All!! - 07/03/08 03:35 PM

Ths U.S Congress passed the USA PATRIOT Act in response to the terrorist attacks of September 11. 2001. The Act vests the Secretary of the Treasury with regulatory powers to combat corruption of U. S. financial institutions for foreign and domestic money laundering purposes. In federal law, money laundering is the … (5 comments)

money laundering: Yo, Criminals! Toronto Real Estate Doesn't Do Laundry - 07/03/08 12:21 PM

Ten years ago, if you'd told me I'd have to take off my shoes in order to go through security at the airport, well, I wouldn't have believed you. In fact, I might have placed a call to your family and made some discrete inquiries regarding your state of mind. Now, … (0 comments)

money laundering: Deposit Cheques and Compliance with FINTRAC - 06/20/08 04:57 PM

This is just being paged to me, as 'we speak'.
Effective June 23rd, the anti-money laundering legislation comes into effect.
At minimum, we are required to take a photocopy of the client's driver's license and take a photocopy of the cheque for the file.CREA will be sending information packages to all offices, … (6 comments)

money laundering: New Money Laundering/Terrorist Financing Regulations - 05/14/08 04:40 PM

This information was just forwarded to me from my Broker, and I thought it would be worth distributing. It is NOT a joke.
Effective June 23, 2008, all real estate transactions will be subject to new requirements under a Federal Law that supersedes both REBBA and the Provincial Privacy Legislation. Under … (4 comments)

money laundering: NAR Realtor's Image Could we do Better? - Is Fame Always About the Money? - 03/23/08 06:44 PM

What does the FBI have to do with a Realtor Magazine 30 Under 30 Celebrity? Mortgage fraud, money laundering, According to the FBI indictment "The defendants engaged in approximately 432 straw buyer transactions, and obtained control over approximately 227 properties with a total purchase price of over $100 million." Wow! For … (42 comments)