Biden targets cash for homes deals in anti-corruption drive

Asia's Tech News Daily

President Biden departs the White House in Washington

By Trevor Hunnicutt

WASHINGTON (Reuters) – The Biden administration wants to shed new light on transactions where people pay cash for houses as part of a broad anti-corruption drive being promoted at the U.S. Summit for Democracy, officials said.

In June, President Joe Biden ordered officials to craft policies to thwart illegal activities. Their initial proposals are outlined in a 38-page U.S. national security strategy on countering corruption released on Monday.

The U.S. Treasury Department said it is working on a new rule to better identify who is behind all-cash real estate transactions and to see if those purchases are being used to shelter illegal profits.

“The ability of illicit actors to launder criminal proceeds through the purchase of real estate,” Treasury said, “threatens U.S. national security and the integrity of the U.S. financial system.”

The agency may also require that more investment funds, such as hedge funds and private equity vehicles, engage in anti-money laundering efforts. And they expect to announce as soon as this week new efforts toward creating a database identifying the owners behind shell companies used to move money anonymously.

The moves come after a series of leaked documents, including October's release of the Pandora Papers, raised questions about ways in which government officials and others discreetly move money abroad, potentially to dodge taxes or accountability for wrongdoing.

Biden is hosting a virtual summit on Thursday and Friday with 110 participants as part of an effort to confront what his administration sees as authoritarian forces led by China and Russia.

(Reporting by Trevor Hunnicutt; Editing by Stephen Coates)

Internet Explorer Channel Network
Asia's Tech News Daily
News Related

OTHER NEWS

Lunar New Year Grocery Shopping Essentials: Amazon vs Lazada / RedMart vs FairPrice

© Provided by Geek Culture lunar new year essentials The Lunar New Year is upon us and that means stocking up on essentials. This means reunion dinners, house-visiting, and spring ... Read more »

Polis Perak sedia minta Bukit Aman siasat dakwaan salah laku KPD Manjung

© Provided by Free Malaysia Today Sebuah akaun Twitter mendakwa Ketua Polis Daerah Manjung, Noor Omar Sappi terlibat dalam sindiket kedai judi. PADANG RENGAS: Polis Perak sedia meminta Jabatan Integriti ... Read more »

DBM releases addt'l P1.185B funding for healthcare workers' unpaid SRAs

health workers in PPEs tend to patient in hospital bed – 24 Oras screencap The Department of Budget and Management (DBM) on Friday released an additional P1.185 billion to fund ... Read more »

Progress Party critical of Taliban visit to Norway: “Islamist terrorist organization”

The Progress Party’s (FRP) Christian Tybring-Gjedde accused the government of providing legitimacy to the Taliban by inviting them to negotiations in Norway. In a statement to NTB, he described the ... Read more »

Adele tearfully postpones Las Vegas residency a day before first show due to COVID delays

© Provided by INSIDER Adele during her “Adele One Night Only,” television special on CBS. Cliff Lipson/CBS via Getty Images Adele shared a video on social media announcing that her ... Read more »

Paris launches ‘manifesto for beauty' as tourists and residents say city is ‘dirty'

The “manifesto for beauty” features plans to tidy up Paris after an online campaign criticising mess in the city went viral. Plans include a zero tolerance policy on rubbish. #SaccageParis ... Read more »

Jeremy Grantham predicts the US 'superbubble' will pop, wiping out $35 trillion in stocks and housing. Here are the 11 best quotes from his new note.

© Matthew Lloyd/Getty Images Jeremy Grantham is a famed investor and historian of stock markets. Matthew Lloyd/Getty Images Legendary investor Jeremy Grantham has said the US is in an epic ... Read more »

Diplomat says Tongan survival story fits with events

Aftermath of Tonga volcanic eruption captured on video Fresh aftermath footage shows roads of Tonga coated in layers of ash and ridden with debris following the volcanic eruption and tsunami.The ... Read more »

UAE: Pakistani expat killed in Houthi attack identified

© Provided by Khaleej Times The Pakistani national, who was killed in the Houthi terror attacks on Abu Dhabi, has been identified as Mamoor Khan, has learnt. “Mamoor Khan is ... Read more »

Vertrag für A321neo gekündigt: Airbus-Streit mit Qatar Airways geht weiter

Der Streit zwischen Airbus und Qatar Airways geht in eine neue Runde. Der Flugzeugbauer kündigte der Airline einen Auftrag für seinen aktuell schwer verfügbaren neuen Jet A321neo, wie Airbus am ... Read more »

Ten quick ways to make cash before January pay day including £40 for watching TV

January can seem to go on forever if you’re feeling skint after Christmas. But if you’re struggling to make ends meet, there are plenty of easy ways to earn some ... Read more »

JIPS boleh siasat dakwaan rasuah judi babitkan ketua polis daerah

© Provided by Sinar Harian KUALA KANGSAR – Polis Perak minta campur tangan Jabatan Integriti dan Pematuhan Standard (JIPS) untuk menyiasat dakwaan rasuah membabitkan ketua polis di sebuah daerah bagi ... Read more »

Transfer news LIVE: Juventus 'to launch huge deal' for Dusan Vlahovic

© Provided by Daily Mail MailOnline logo The January transfer window is now open and active for Premier League sides  Clubs will have until 11pm on Monday, January 31 to ... Read more »

Here are all of CS:GO's Dreams and Nightmares skins

© Provided by Dot Esports The newest CS:GO case, Dreams and Nightmares, features 17 weapon skins made by community designers. As the name suggests, the skins feature dreamy and psychedelic ... Read more »

Nach Militärputsch: Ölkonzern Total verabschiedet sich aus Myanmar

Der französische Energiekonzern Total zieht sich ein Jahr nach dem Militärputsch in Myanmar komplett aus dem südostasiatischen Land zurück. Die sich weiter verschlechternde Menschenrechtssituation und generelle Lage habe zu der ... Read more »

Noch kein Training im 2022!: Die Leidensgeschichte von GC-Star Pusic

Was für ein Pechvogel! Petar Pusic (22) liegt seit Wochen flach: Der GC-Star erkrankte zweimal an Corona – und auch noch am Pfeifferschen Drüsenfieber. © Marc Schumacher/freshfocus Die Leidensgeschichte von ... Read more »

Kaia Gerber: Bei ihrem ersten Red-Carpet-Auftritt 2022 verleiht sie dem klassischen Tanztee-Kleid neuen Schwung

© Getty Images Kaia-Gerber-Celine Getty Images Ein Look, der viele Assoziationen hervorrufen kann: Manche mögen bei schwarzen Kleidern mit weißen Manschetten und Krägen an Zimmermädchen-Uniformen denken, andere an klassische Tanztee-Kleider ... Read more »

Einfach lecker! Dieses Rezept für Rosenkohl aus dem Backofen mit Granatapfelkernen ist ein echter Winter-Hit

© Bereitgestellt von Berliner Kurier Rosenkohl ist einfach immer ein Genuss. Ob mit Mandelbutter oder mit Knoblauch und Parmesan – das leckere Wintergemüse lässt sich vielfältig kombinieren und ist nur ... Read more »

Blitzschneller Käsekuchen mit Keksboden, gelingt ganz leicht und schmeckt köstlich

© Bereitgestellt von Berliner Kurier Köstlicher Käsekuchen ist einer der Klassiker auf der Kaffeetafel. Wenn es ganz schnell gehen soll, backt man ihn einfach ohne Boden. Oder man backt ihn ... Read more »

14 Gewinner, 7 Verlierer: Das sind die Steuerfüsse aller Aargauer Gemeinden

© watson/keystone Teaserbild Das Schloss Hallwil steht auf steuergünstigem Boden der Gemeinde Seengen, das den Steuerfuss um 5 Prozentpunkte senkte. Geltwil bleibt das Steuerparadies im Kanton Aargau. Allerdings rückt Oberwil-Lieli ... Read more »

Fehlende Work-Life-Balance häufigster Grund für Jobwechsel

© KEYSTONE/GAETAN BALLY Schweizerinnen und Schweizer sind grundsätzlich offen für eine neue Stelle. Jede vierte Person hierzulande hat seit Ausbruch der Pandemie sogar schon den Job gewechselt. Grund war oft ... Read more »

I was sent a pair of SOCKS by E.ON to keep warm as energy bills double… I could not believe the bare faced cheek of it

A SHOP worker has slammed her energy supplier after receiving a pair of socks to help her use less fuel while families are living in fear of soaring costs. Barbara ... Read more »

Couple devastated after arriving at luxury hotel – only to find it wasn't what they were expecting

A COUPLE were devastated after they arrived at what they thought would be a luxury hotel – only to find it wasn't what they were expecting. Sebastian Alexander, 33, said ... Read more »

‘The Batman' unmasks 2 official posters

Warner Bros. Pictures on Thursday unveiled two posters for its action adventure “The Batman.” One of the official posters features a close-up look at caped crusader Batman, portrayed by Robert ... Read more »

The smell of money: why locals think Peru’s billion-dollar fishmeal sector stinks

Just before you reach Chimbote, a seaside city 260 miles (420km) north of the Peruvian capital Lima, you can smell it. It’s like the whiff of a fishmonger’s stall on ... Read more »

10 things Kate Middleton loves that you can buy at Saks

You may not live in a palace, but that doesn’t mean you don’t deserve a princess-worthy indulgence every once in a while, am I right? And it’s easier to add ... Read more »

Osaka's Australian Open defence ended by Anisimova; She faces Barty next

© Associated Press Defending champion Naomi Osaka is out of the Australian Open after a third-round defeat by American Amanda Anisimova Naomi Osaka’s Australian Open defence came to an end ... Read more »

Meat Loaf dead – Bat Out Of Hell singer died after ‘catching Covid' aged 74, reports claim

SINGING legend Meat Loaf has died at the age of 74 – reportedly after catching Covid. Born Marvin Lee Aday in Texas, he shot to fame with his powerful, wide-ranging ... Read more »

Watch: ‘That's live TV for you' – Reporter finishes broadcast after getting hit by car

A TV reporter miraculously managed to to finish their live report despite being hit a car in the middle of their broadcast. WSAZ Channel 3’s Tori Yorgey was filling in news ... Read more »

Banker who quit over Covid breach went to Euros final

© Reuters Banker António Horta-Osório, who quit as Credit Suisse boss for breaking Covid isolation rules, also went to the Euros football final, it has emerged. He resigned last weekend, ... Read more »

On This Day: Bucharest Jews tortured, raped, killed in Holocaust pogrom

© (photo credit: Wikimedia Commons) Iron Guard Legionnaires are seen marching in Bucharest. January 21, 2022 marks 81 years since legionnaires from the Iron Guard in Romania revolted and carried ... Read more »

Dennis Politic's first words after leaving Bolton Wanderers and sealing Cremonese transfer

Dennis Politic is looking forward to his new environment and experiences at Italian side Cremonese after sealing a permanent exit from Bolton Wanderers. The 21-year-old has joined the Serie B ... Read more »

4 found dead at US-Canada border, man charged

A Florida man was charged Thursday with human smuggling after the bodies of four people, including a baby and a teen, were found in Canada near the U.S. border in ... Read more »

CAS judges 'lacked anti-doping expertise' at Tokyo Olympics

GENEVA (AP) — The Court of Arbitration for Sport has been criticized for picking judges to work at the Tokyo Olympics who were not expert enough to handle doping cases. ... Read more »

I was sacked from Greggs after exposing ‘mountains' of food binned every DAY including 5 bags full of baguettes

A GREGGS employee filmed mountains of food she claims was being binned every day – only to be promptly sacked. Nicole Iwalowo had been working at the branch on Western ... Read more »

Parents' fury over £100 fine for taking ‘seconds too long' to drop their child off at pre school

PARENTS were left furious after they were fined £100 for taking “seconds too long” when dropping their child off at pre school. The dad, who does not wish to be ... Read more »

I had to wait three DAYS on an uncomfortable chair at A&E after breaking my ankle – I was in excruciating pain

A WOMAN was left in excruciating pain as she was forced to wait three DAYS on an uncomfortable chair in A&E after breaking her ankle. Leah Rees, 26, was taken ... Read more »

I was charged £300,000 for one month's electricity bill by mistake – they asked me to split the payment over 36 months

A MUM was left in shock after she was charged £336,865 for one month's electricity bill. Emma Martin, 40, couldn't believe her eyes when she saw the massive bill from ... Read more »

Teruk dikecam, MPKj turun papan tanda Jawi 'terbalik'

© Provided by Sinar Harian SHAH ALAM – Majlis Perbandaran Kajang (MPKj) bertindak menurunkan papan tanda memaparkan tulisan Jawi ‘terbalik’ yang dipasang di beberapa kawasan pihak berkuasa tempatan (PBT) itu ... Read more »

Kluster Dah Teratai Jingga jadi kluster pendidikan baharu di Kedah

© Provided by Sinar Harian ALOR SETAR – Kluster Dah Teratai Jingga menjadi kluster terbaharu Covid-19 yang dikesan di Kedah melibatkan Maktab Mahmud Alor Setar, di sini, setakat Khamis. Exco ... Read more »
On free-english-test.com you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic