The Financial Crimes Enforcement Network today reissued its geographic targeting orders temporarily requiring U.S. title insurance companies in specified areas to identify the individuals behind companies used to conduct high-end, all-cash real estate transactions. The purchase amount threshold remains at $300,000 for each covered metropolitan area. In a change from previously issued orders, the new GTOs will not require reporting for purchases made by legal entities that are U.S. publicly traded companies.
The orders continue to cover Bexar, Tarrant and Dallas counties in Texas; Miami-Dade, Broward and Palm Beach counties in Florida; all boroughs of New York City; San Diego, Los Angeles, San Francisco, San Mateo and Santa Clara counties 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.