FinCEN Renews and Expands Geographic Targeting Orders (GTO's) for Real Estate

April 26, 2023

FinCEN announced renewed and expanded GTO's requiring US title insurance companies to verify identities of natural persons behind shell companies that are used to purchase residential real estate non-financed. Expansion includes Litchfield County in Connecticut and Adams, Arapahoe, Clear Creek, Denver, Douglas, Eagle, Elbert, El Paso, Fremont, Jefferson, Mesa, Pitkin, Pueblo, and Summit counties in Colorado. The effective period of the GTOs for purchases in these newly added areas begins on May 24, 2023. The terms of the comprehensive GTO's are effective through October 21st, 2023.

View Article Source →

Stay Informed, Subscribe to the Compliance Newshub