peekpublishersTLDR: Illicit Finance Is A Concern When It Comes To U.S. Investor Immigrants
Illicit finance is a growing concern in the United States, particularly in relation to the immigrant investment program. Various books have highlighted the issue of trillions of dollars of illicit wealth circulating in global bank accounts and the negative impact this has on democracies. One area of concern is EB-5 investor immigration, where measures have been put in place to prevent the use of illicitly obtained funds. The U.S. Citizenship and Immigration Services (USCIS) requires EB-5 investors to demonstrate a legitimate source and path of funds for their investments. However, the current scrutiny may not be as stringent as it should be, as investors are not required to prove the legal generation of all their funds. This allows for the possibility of individuals with questionable sources of wealth to gain entry into the U.S. through the EB-5 program. Other jurisdictions involved in investor immigration have implemented stricter regulations, requiring investors to disclose all sources of their wealth. To combat illicit funding, it will be crucial for EB-5 attorneys to play a key role in verifying the legitimacy of funds and identifying any attempts to launder illicit funds. Failure to do so may result in future regulations mandating such measures. Staying clear of illicit finance will not only ensure peace of mind for those involved in the EB-5 program, but also maintain the program’s legitimacy for investors.
Key Points:
- Illicit finance is a major concern in the United States, with trillions of dollars of illicit wealth circulating globally.
- EB-5 investor immigration is a particular area of concern, as the current measures in place to prevent the use of illicit funds may not be stringent enough.
- Other jurisdictions have implemented stricter regulations, requiring investors to disclose all sources of their wealth.
- EB-5 attorneys will play a crucial role in verifying the legitimacy of funds and preventing attempts to launder illicit funds.
