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Articles Posted in All cash real estate deals

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FinCEN Renews Geographic Targeting Orders for 12 Metropolitan Areas around the United States

On May 8, 2020, the U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) reissued its Geographic Targeting Orders (GTOs) for 12 metropolitan areas.  These GTOs are identical to the November 2019 GTOs.  The GTOs require title companies and their subsidiaries and agents to collect and report information about certain…

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AML Requirements for High-Value Real Estate in New York and Florida Go into Effect March 1, 2016

On January 13, 2016 the U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) issued Geographic Targeting Orders (GTOs) requiring reporting by title insurance companies and their subsidiaries and agents on certain high-value real estate transactions starting on March 1, 2016. The GTOs require reporting on “all-cash” residential real estate…