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Three customer identification gaps facilitate money launderers in re-investing their illicit proceeds in the U.S. real estate sector, allowing them to remain anonymous. First, the criteria to decide which real estate transactions must undergo data collection and reporting requirements are too lax. Second, when a real estate agency is involved in a real estate transaction, identification requirements apply only to the client of the real estate agency, leaving the other party uncovered. Third, in case a legal professional advises a buyer on how to conclude a transaction, no customer identification measures are required at all. The first customer identification gap is left by the most recent Geographic Targeting Order (GTO) in identifying the transactions subject to reporting requirements. The GTO imposes customer identification requirements only for those who buy residential real properties located in 14 specific counties of the United States (see annex). Thus, every non-residential ...

Here's the link to the the first part This second part of the article wants to enact the worst-case scenario for Italy: the likelihood of a default in light of a reduction of stimulus program by ECB. At first, the conditions of the Eurozone seem pretty stable and the macroeconomic outlook, even considering political risk, is far from 2010. Populist parties have been sidelined during the last elections in France and UK. In Germany, a stream of positive economic data is accompanied by political uncertainty over Chancellor Merkel’s ability to form a coalition government: however, the turmoil is unlikely to have serious repercussions. Spain is regaining focus, notwithstanding the political stand-off between the Central government and Catalan authorities. Greece is no longer in dire straits and is slowly recovering: the Hellenic country has just held its first bond sale since 2014. Growth has gained steam in most of European countries over the last 2 years. In ...