Four additional high-end housing markets have been identified as potential hotbeds of money laundering, prompting the U.S. Treasury Department on Wednesday to expand geographic targeting orders initially deployed in Miami and Manhattan to parts of California and Texas.
The department’s Financial Crimes Enforcement Network will begin cracking down on pricey housing deals in Los Angeles County, the San Francisco Bay Area, San Diego County and San Antonio. All New York City boroughs and the other two counties in South Florida also will be covered by the orders taking effect Aug. 28.
