7/20/22 9:27 AM

FinCEN Renews and Expands Geographic Targeting Orders

The Financial Crimes Enforcement Network (FinCEN) has renewed and expanded its Geographic Targeting Orders (GTOs) that require U.S. title insurance companies to identify the natural persons behind shell companies used in all-cash purchases of residential real estate. 

The terms of the GTOs were effective on April 30, 2022 and end on October 26, 2022. FinCEN renewed the GTOs that cover certain counties within the following major U.S. metropolitan areas: Boston, Chicago, Dallas-Fort Worth, Honolulu, Las Vegas, Los Angeles, Miami, New York City, San Antonio, San Diego, San Francisco, and Seattle.

In conjunction with law enforcement partners, FinCEN has identified additional regions that present greater risk for illicit finance activity through all-cash purchases of residential real estate. The expanded geographic coverage of the GTOs now includes parts of District of Columbia, Northern Virginia, Maryland (DMV) metropolitan area; the Hawaiian Islands of Maui, Hawaii, and Kauai; and Fairfield County, Connecticut.

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Topics: Regulatory and Compliance