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All-cash real estate buys eyed:Treasury on lookout for money laundering

Nov 20, 2018 - The Boston Globe

Secret buyers of luxury real estate in Greater Boston will soon get extra scrutiny.

The US Treasury Department has added Suffolk and Middlesex Counties to a program that requires people who buy homes with cash through shell companies to share their name with the government. It's a bid to combat money laundering in high-end real estate, which critics say is becoming increasingly popular with buyers who can hide their identity behind a limited liability company or other shell entity.

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