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US Treasury urged to scrutinise foreign real estate buyers

They should be screened for potential money-laundering risk: 17 non-profit groups

The Time Warner Center in New York. Wealthy international buyers, including politicians and those who have been the targets of government inquiries, had used shell companies to purchase luxury New York condos.

New York

IN a broad show of support for increased scrutiny of foreign real estate buyers in the United States, 17 nonprofit organisations on Tuesday urged the Treasury Department to require that the real estate industry verify the identities of buyers and screen them for potential money-