The Financial Crimes Enforcement Network today reissued and expanded its geographic targeting orders 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 orders are effective from Oct. 27, 2022, until April 4, 2023.
FinCEN renewed orders covering 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; Honolulu, Hawaii, Maui and Kauai counties in Hawaii; Clark County in Nevada; King County in Washington; Suffolk and Middlesex counties in Massachusetts; Cook County in Illinois; Fairfield County in Connecticut; and the Washington-Baltimore area (encompassing Anne Arundel, Baltimore, Howard, Montgomery and Prince George’s counties plus Baltimore city in Maryland; Arlington and Fairfax counties plus Alexandria, Falls Church and Fairfax cities in Virginia; and the District of Columbia).
The orders were also expanded to cover the Houston-area counties of Harris and Montgomery in Texas, plus Webb County, Texas, where Laredo is located. The purchase amount threshold at which the new and renewed orders apply remains $300,000, except in the city and county of Baltimore, where it is $50,000.