« The Future of the Title Company | Main | Information Security: Blindspots and Trends »

08/17/2016

ALTA Develops Tools to Help Comply With FinCEN Order to Identify Money-laundering Schemes

The Financial Crimes Enforcement Network (FinCEN) on July 27 announced new Geographic Targeting Orders temporarily requiring all U.S. title insurance companies to identify the individuals behind companies used to conduct high-end, all-cash real estate transactions in six major jurisdictions. The GTOs are effective for 180 days beginning on Aug. 28 and apply to underwriters’ subsidiaries and agents. Click here for more on the order.

ALTA has created several documents to help title professionals comply with FinCEN’s order.

In addition, ALTA has created a handout that title professionals can provide to real estate professionals to explain the GTO:

Fincen_GTO_real_estate_agents

Comments

Feed You can follow this conversation by subscribing to the comment feed for this post.

Will you have the 8/19 webinar available as a recorded webinar? I was unavailable.

Hello,

If you missed our webinar last week, you can view the recording here: https://www.youtube.com/watch?v=n-TZJrGw6mc

The comments to this entry are closed.