mtnbkr
Member
http://msnbc.msn.com/id/5131685/site/newsweek/
People buying homes are subjected to another fee so title companies can check your name against the “specifically designated nationals†(SDN) list.
Apparently, someone in Treasury thinks terrorists are laundering money through real estate.
I thought the USA PATRIOT ACT was only to be targeted against suspected terrorists...
Oh, the article also lists "private individuals" who are now considered "financial institutions" under the Patriot Act and must perform SDN searches.
I know it's a small fee among many when buying a house, but how is this realistically related to terrorism?
Maybe someone can tell me how taking yet another look at Bill and Jane Homeowner will prevent Arab terrorists from attacking us again...
What next, an SDN search to buy or sell a car? Where does it stop?
Chris
People buying homes are subjected to another fee so title companies can check your name against the “specifically designated nationals†(SDN) list.
Apparently, someone in Treasury thinks terrorists are laundering money through real estate.
I thought the USA PATRIOT ACT was only to be targeted against suspected terrorists...
Oh, the article also lists "private individuals" who are now considered "financial institutions" under the Patriot Act and must perform SDN searches.
I know it's a small fee among many when buying a house, but how is this realistically related to terrorism?
Maybe someone can tell me how taking yet another look at Bill and Jane Homeowner will prevent Arab terrorists from attacking us again...
What next, an SDN search to buy or sell a car? Where does it stop?
Chris