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May 8, 2020: FinCEN reissues Real Estate GTOs

FinCEN Reissues Real Estate Geographic Targeting Orders for 12 Metropolitan Areas

The Financial Crimes Enforcement Network (FinCEN) today announced the renewal of its Geographic Targeting Orders (GTOs) that require U.S. title insurance companies to identify the natural persons behind shell companies used in all-cash purchases of residential real estate. These renewed GTOs are identical to the November 2019 GTOs. The purchase amount threshold remains $300,000 for each covered metropolitan area. The terms of this Order are effective beginning May 10, 2020 and ending on November 5, 2020.

Links:

FinCEN News Release

Geographic Targeting Order

FAQs

Categories: Anti-Money Laundering FinCEN Updates Geographic Targeting Orders

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