More than $2.6B has been laundered through US real estate in the past 20 years

Purchasing art is a common money laundering technique

Art is easy to transport internationally, susceptible to price inflation, and usually paid for with cash, making it a frequently used money laundering tactic. Additionally, loose regulations surrounding art transactions allow buyers to remain anonymous, adding an additional layer of ease for people trying to launder money.

Lack of regulation makes cryptocurrency a hotbed for money laundering.

Meet a government agent who laundered millions of dollars for Pablo Escobar.

Roughly 10% of US apartments were owned by private equity firms as of 2025.

Investors are buying up land in the Metaverse

Real-estate transactions in the metaverse are reaching record highs. Digital real estate investors share how and why they're spending millions on virtual property.

Money laundering is a three-step process: placement, layering, and integration

"Placement" occurs when dirty money is introduced into the financial system. Then "layering" happens when the money is moved around to disguise where it actually came from. Finally, the money is placed in other assets or investments in a step called integration.

Real estate investment firms handle enormous, complex real estate transactions

In the large-scale projects real estate investment firms handle (such as huge commercial developments), the parties involved in a sale are more likely to be large corporate real estate developers and investors than individuals.

Anti-money laundering laws forcing banks to report data have become important foreign policy tools

Since the Bank Secrecy Act of 1970, which required banks to report transactions exceeding $10K and keep records on customers, anti-money laundering laws have become an important proxy for American foreign policy initiatives. Increased regulation via financial institutions helps curb drug and human trafficking, as well as destabilize the financial infrastructure for terrorist organizations.

A former financial crime investigator says Hollywood has done a pretty good job depicting money laundering

A former financial crime investigator says "Narcos" and "Ozark" have pretty realistic scenes, but other well-known financial crime depictions like "The Wolf of Wall Street" are off base. Some of the main inconsistencies include overly dramatic gunfights and unrealistic cash amounts.

Organized crime, including money laundering, drains $1.96T from the global economy annually

Overall, financial crime drains $3T from the global economy, with organized crime making up nearly $2T of that total. Drug trafficking is the second-largest drain on the global economy.

There's a myth that Al Capone coined the term 'money laundering,' or the process of disguising the criminal origins of illegally obtained money so it can be used without detection.

The United States currently ranks number one for countries that enable the most financial secrecy

Financial secrecy refers to complex systems that make it easy for people and companies to hide assets. High levels of financial secrecy are associated with illegal activity, like drug trafficking and money laundering. Lax regulations around reporting who owns trusts, real estate, and businesses impact the United States' global financial secrecy ranking.

As of 2025, an estimated $3.2B in annual revenue flows through dark web platforms

The untraceable cryptocurrency Monero is used in about 60% of transactions across more than 37 active marketplaces that sell copyrighted materials, private information, and phishing kits—tools that help bad actors more easily create fake sites to steal users' data—for financial fraud.

Before the Great Recession, lax requirements to get a mortgage resulted in mass defaults that left nearly 19 million homes vacant.

Historically, borrowing money from other people to purchase property was common until private financing companies—primarily building and loan associations—stepped in to offer mortgages to buyers.

A Chinese-Mexican alliance marked one of history's largest nonviolent money laundering schemes

In 2019, Chinese-American gangster Xizhi Li was arrested for an expansive money laundering scheme spanning four continents. Li reportedly laundered hundreds of millions of dollars for cartel members, wealthy Chinese Americans, and other foreign countries.

Explore a breakdown of the US gross domestic product, including GDP's growth over time, the GDP of individual states, and which industries contribute the most to US GDP.

Subprime lending practices, which fueled the housing bubble, surged after 2000.

Real estate is grouped into broad categories: residential, commercial and industrial

Other categories of real estate include raw land and “special use” real estate, which includes cemeteries. Technically speaking, real estate is considered an alternative investment.

Monaco is the world's most expensive real estate market

New York City was the world's second-most expensive real estate market, and Hong Kong was the third. A visual ranks the top 20 most expensive real estate markets in the world at the time.

One theory suggests real estate markets follow a predictable 18-year pattern

The theory dictates that real estate markets tend to experience about 14 years of growth, including a mid-cycle dip, then experience four years of decline. Real estate experts in London discuss the theory in an article.

The United States had a washing machine that cleaned dirty dollar bills

In the early 1900s, the US Treasury Department had a machine that washed and ironed old, soiled paper bills. The machine helped the Treasury save money by decreasing printing costs for new dollar bills, but had nothing to do with the modern understanding of money laundering.

The average wealth gap between homeowners and renters was more than $1.3M in 2022.

The market share of institutional investors in the US housing market is less than 1%

Institutional investors have drawn negative media attention for their purported role in limiting housing supply and driving housing unaffordability. This report separates myth from fact in the nuanced discussion around institutional investors' role in the US housing market.

Cheap debt and relatively minimal regulation have fueled private equity's expansion in recent years.

Up to to $68M in coins ends up in American landfills each year.

Waste facilities and TSA say they collect thousands of dollars of discarded money per year. A Wall Street Journal reporter visited a waste facility and learned what you can do with your extra change.

Money 'mules' don't always know they are laundering money

Money mules are anyone who receives money in a laundering scheme and then sends it forward, either to another company or to a financial institution. While some money mules—often called smurfs—actually work with criminals laundering money, getting someone to receive and then send money has become a popular scam.

Real estate investment trusts help give portfolios more exposure to real estate

Also known as a REIT, a real estate investment trust is a type of company that invests in a portfolio of real estate, such as apartment buildings or malls. Investors can buy shares of the REIT to participate in its portfolio’s gains and losses.

From 2014-25, US private sector data center investments have increased more than 25-fold

The annualized rate of US data center construction has ballooned from $1.6B to $41.1B, creating a market for data centers whose infrastructure costs and land, power, and transmission capacity demands rival those of offices and industrial facilities.

In real estate, a larger down payment can reduce your loan amount

However, the trade-off is liquidity: Tying up too much cash in a home can reduce emergency savings and delay your purchase.

To continue selling mortgages, agencies that determine how risky a loan is gave high ratings to homebuyers regardless of their actual risk portfolio.

Thousands of quarters and huge water bills: the economics of laundromats

There are approximately 30,000 laundromats in the US, serving the roughly 50% of apartment dwellers who do not have a washer or dryer. Shops profit when they can get their machines—roughly 30 to 40 per location, on average—to wash eight to 10 loads a day. Connections with commercial vendors help.

The US dollar is the most popular note to counterfeit

Counterfeit operations are often controlled by rogue governments, drug cartels, and more. These organized crime rings often sell counterfeit bills wholesale, for anywhere between 40 and 70 cents per dollar.

Data center companies are worsening housing undersupply in some regional markets.

Why Americans keep buying McMansions

Some argue that McMansions—large, relatively newly built, amenity-filled, cookie-cutter homes—are ugly. Others say they're just not a good investment. And yet Americans continue buying them. This video explores why McMansions are still popular despite these criticisms, and how these homes got their start in the first place. Watch the video here.

In the aftermath of the 2008 financial crisis, the Fed began a program of quantitative easing

This program injected trillions of dollars of new money into financial markets to stimulate the economy. The move catalyzed an 11-year bull run and was repeated during the pandemic. Experts argue such power could worsen wealth inequality and contribute to bubbles in housing and finance.

The global economy runs on US dollars, with nearly 90% of international trade in 2019 being processed in US dollars.

Art theft is the third-largest source of criminal revenues worldwide.

‘The Giant Pool of Money’ remains one of the most acclaimed accounts of the 2008 housing bubble

This Peabody Award–winning "This American Life" episode traces how cheap global money, subprime lending, and Wall Street engineering inflated the housing bubble. Through vivid reporting and real voices, it became one of the defining works of 2000s financial journalism.

Today, in the US, people can face years in prison for counterfeiting money

There are both federal and state laws that punish people who use or create counterfeit money. The crime can not only trigger hefty fines, but could also lead to decades behind bars.

Fraud and identity theft are among the most common dark web-related crimes.

Financial institutions use 'Know Your Client' standards to prevent money laundering

KYC standards include verifying customers' identities and conducting regular account checks for high-risk clients to avoid money laundering schemes. These standards obligate banks to report suspicious customers and activity.

Only 14% of transactions are in cash, as of 2025

Credit (35%) and debit (30%) cards have long eclipsed cash as the primary method of payment in the US. It is a primary backup, however, with 90% of customers intending to use cash to pay or store value and 80% carrying cash.

The salary needed to buy a home in the US

Anyone who has recently explored buying a home in the US knows it's not a cheap endeavor. The median salary for the typical American homebuyer has risen to roughly $104K, up from $88K two years ago. This data visualization breaks down the household income required to buy a median-priced home in 50 major US metro areas. Learn more here.

Ethereum Founder Vitalik Buterin was surprised by the emergence of NFTs

Scams have pervaded the NFT space and made critics question their legitimacy, but proponents believe their use cases could one day extend to real estate and credit scores.

The average monthly mortgage payment in the US costs 38% more than monthly rent

A recent study showed that the price gap between renting and buying grew in 38 major US metro areas since last year. The metro areas with the smallest price gaps between renting and buying include Detroit, Philadelphia, and Cleveland.

Housing prices have skyrocketed over the last 50 years

After adjusting for inflation, housing costs have more than doubled since 1965. And based on average incomes, buyers are spending more than five times their income for a home versus buyers in 1965, who typically spent less than three times their income.

Read about why America is obsessed with the stories of financial scammers.

Visualizing the world's $261T in investable assets

Nearly half of the world's portfolio of stocks and bonds originate in the US. Roughly 1% of all investable assets are in the form of cryptocurrency.

Half of the richest people in the US are finding ways around death taxes

One of the main purposes of the federal estate tax is to crack down on generational wealth, so wealth isn't concentrated among a select few. However, the ultra-rich have found ways around paying these taxes. This ProPublica article investigates the practices used by half of the 100 richest people in the US to avoid death taxes.