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Andrea Gacki

Andrea Gacki

Director of the Financial Crimes Enforcement Network

Appears in 2 stories

Notable Quotes

"Illicit actors are exploiting the U.S. residential real estate market to launder and hide the proceeds of serious crimes with anonymity, while law-abiding Americans bear the cost of inflated housing prices." — Statement on the proposed rule, February 2024

"At a time when residential real estate is more expensive than ever and some of our biggest cities are experiencing affordable housing crises, money launderers are exploiting the U.S. housing market and buying homes anonymously to wash their illicitly gained funds." — ACAMS conference remarks

The investment adviser industry has served as an entry point into the U.S. market for illicit proceeds associated with foreign corruption, fraud, and tax evasion.

Stories

United States closes decades-long money laundering loophole in residential real estate

Rule Changes

Leading FinCEN during rule implementation

For decades, anyone with enough cash and a shell company could buy a house in America without telling the federal government who they were. That changed on March 1, 2026, when a new rule from the Financial Crimes Enforcement Network (FinCEN) took effect requiring closing agents to report the true owners behind any legal entity or trust purchasing residential property without traditional bank financing. The rule applies nationwide, to every price point, closing a gap the Treasury Department has called one of the most significant vulnerabilities in the country's anti-money laundering defenses.

Updated Mar 1

The twenty-year fight over investment adviser money laundering rules

Rule Changes

Leading FinCEN's review of investment adviser AML rule under Treasury Secretary Scott Bessent's direction

FinCEN just delayed anti-money laundering rules for investment advisers by two years, pushing compliance from January 2026 to January 2028. It's the fourth time since 2002 that federal regulators have tried—and struggled—to close what transparency advocates call a $125 trillion loophole that sanctioned Russian oligarchs, corrupt foreign officials, and fraudsters exploit to access U.S. markets. The rule would force 15,000 advisory firms to implement the same suspicious activity reporting that banks face.

Updated Jan 2