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FinCEN Extends and Expands Targeting Orders

Apparently satisfied with the progress made in its anti-money laundering efforts, the Financial Crimes Enforcement Network (FinCEN) extended and expanded its Geographic Targeting Order ("GTO") on July 22, 2016. The original GTO, issued January 13, 2016, required title companies to identify natural persons in residential...

FinCEN Attacks Real Estate Deals In Miami and New York

The Financial Crimes Enforcement Network (FinCEN) issued Geographic Targeting Orders (“GTO’s”) on January 13, 2015 requiring that title companies must identify natural persons behind companies in all cash, high-end residential real estate transactions in Miami-Dade County and Manhattan. The true beneficial owner of the company...