The Financial Crimes Enforcement Network today reissued its revised geographic targeting orders temporarily requiring certain U.S. title insurance companies in specificied areas to identify the individuals behind companies used to conduct high-end, all-cash real estate transactions. FinCEN also expanded the orders to include a total of 12 metropolitan areas and set the purchase amount threshold — which previously varied by city — at $300,000 for all covered metropolitan areas.
The orders will now cover Bexar, Tarrant and Dallas counties in Texas; Miami-Dade, Broward and Palm Beach in Florida; all boroughs of New York City; San Diego, Los Angeles, San Francisco, San Mateo and Santa Clara in California; the city and county of Honolulu; Clark County in Nevada; King County in Washington; Suffolk and Middlesex counties in Massachusetts; and Cook County in Illinois.
