FinCEN Takes Aim at Commercial Property Amid Ukraine War
January 27, 2023
Industry experts are anticipating stronger scrutiny of commercial property ownership structures and sources of investment following a warning from U.S. officials that sanctioned Russians might be seeking to hide their money in the sector. To gain a better understand of this development, a reporter from Law360 spoke to Peter D. Hardy, who co-leads Ballard Spahr's Anti-Money Laundering Team.
"The banks are already looking hard, but stuff like this will make them look even harder in particular instances where they are examining something," Mr. Hardy said.
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