article thumbnail

Buying into AML risks in real estate

Abrigo

In 2016 when the Panama Papers exposed an international network of offshore entities involved in tax evasion, fraud, and sanction evasion, some of which included real estate holdings, regulations began to change. According to the National Association of Realtors, there were more than 106,000 real estate brokerage firms in the United States.

El Paso 195
article thumbnail

Zooming In On SMEs’ Financial Weak Spots

PYMNTS

. — the Upper Plains region — saw a spike in small business bankruptcy rates, while Connecticut saw the largest increase in this metric in the third quarter. Political uncertainty will endure, the report noted, as policy surrounding taxes and immigration is headed for change.

Policies 100
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Bridging Banking Gaps For Cannabis Companies

PYMNTS

There are security costs, theft risk, tracking of how cash is used, vendor management, the lack of payroll infrastructure in place, the 10+ percent premium charged for paying taxes with cash, cash courier services and the sheer amount of time required day in and out to manage the flow of paper bills. “At The government benefits, too.

Company 170
article thumbnail

Sports Betting Moves Forward In The U.S. — With or Without ‘Integrity Fees’

PYMNTS

Meanwhile, states such as Kentucky, Connecticut, Illinois, Michigan, Indiana, Massachusetts, Maryland and others are making moves toward legalization, and via different methods. The state reportedly would impose a $250,000 licensing fee on betting providers, along with a 3 percent tax. percent state tax on sports wagers.