The Financial Crimes Enforcement Network today announced it has renewed geographic targeting orders, or GTOs, that require U.S. title insurance companies to identify the natural persons behind shell companies used in non-financed purchases of residential real estate. The terms of the GTOs are effective beginning today and ending on April 14, 2025.
FinCEN renewed the GTOs that cover certain counties and major U.S. metropolitan areas in California, Colorado, Connecticut, Florida, Hawaii, Illinois, Maryland, Massachusetts, Nevada, New York, Texas, Washington, Virginia and the District of Columbia. The purchase price threshold remains $300,000 for each covered metropolitan area, with the exception of the city and county of Baltimore, where the purchase price threshold is $50,000.
