Global Targeting Orders Impose Temporary New Reporting Requirements on Title Companies

FinCEN, one the U.S. Treasury’s lead agencies in the fight against money laundering, has recently issued two Global Targeting Orders (GTOs) imposing new data collection and reporting requirements on specific title companies involved in certain high-end real estate transactions in the Borough of Manhattan, NY and Miami-Dade County, FL. The GTOs are effective March 1, 2016 through August 27, 2016. To learn more about the details of the GTOs and the effect on title companies doing business in these areas, read the American Land Title Association’s “Fact Sheet”.

Fact Sheet for Financial Crimes Enforcement Network Geographic Targeting Orders for Manhattan, N.Y., and Miami-Dade County, Fla.

FAQs: Geographic Targeting Involving Certain Real Estate Transactions

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