Special Counsel Eric Berg was quoted in a Compliance Week article, “Why is Treasury Cracking Down on Big, Cash-Only Real Estate Transactions?” on January 20, 2016. The article discussed efforts by the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) to minimize money laundering in the real estate sector by issuing new Geographic Targeting Orders (GTOs) in Manhattan and Miami-Dade County, Florida. Berg said the limited scope of the GTO suggests that FinCEN wants to evaluate its effect before deciding to broaden its attack. He was quoted saying, “They will certainly look at the effect it has because it is only a temporary measure. Future moves will be based upon it.”
Related News
06 February 2025
In the News
Vanessa Miller Assesses Panama Canal Discourse
Foley & Lardner LLP partner Vanessa Miller commented in SupplyChainBrain article, "The Fight for Control of the Panama Canal," lending important context to the recent headlines over the important waterway.
06 February 2025
In the News
Gregory Husisian Weighs in on Suspension of De Minimis Trade Exemption
Foley & Lardner LLP partner Gregory Husisian offered context on President Trump's recent trade actions on China in The Wall Street Journal article, "Why Trump Is Closing a Trade Exemption for China."
04 February 2025
In the News
Andrew Wronski on Tariff Fluidity – 'Keep on top of the issues'
Foley & Lardner LLP partner Andrew Wronski assessed the evolving shift in U.S. trade policy in the Milwaukee Business Journal article, "Trump tariffs won't disappear — so how should Wisconsin businesses prepare?"