News & Analysis as of

Title Insurance Residential Real Estate Market Anti-Money Laundering

Holland & Knight LLP

FinCEN Proposal for Nonfinanced Purchases of Residential Real Estate and Gratuitous Transfers

Holland & Knight LLP on

The U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) on Feb. 7, 2024, issued a Notice of Proposed Rulemaking (NPRM) proposing a new nationwide reporting obligation to be imposed on settlement...more

Goodwin

Fed Proposes Guidelines for Access to Master Accounts and Payment Services

Goodwin on

In This Issue. The Board of Governors of the Federal Reserve System (Federal Reserve), in response to an increased number of inquiries and access requests from companies with fintech and other narrow purpose charters, invited...more

Foodman CPAs & Advisors

Residential Real Property Purchased with Virtual Currency must be Reported

On November 15, 2018, the Financial Crimes Enforcement Network (FinCEN) announced the issuance of a “Revised” Geographic Targeting Order (GTO) that requires U.S. title insurance companies (Covered Business) to identify the...more

BakerHostetler

From Park Avenue to Ocean Drive, High End Residential Real Estate Transactions Under the Microscope

BakerHostetler on

The U.S. government’s aggressive push to combat international money laundering is entering a new phase by focusing on real estate investments. On January 13, 2016, the Financial Crimes Enforcement Network (FinCEN), the U.S....more

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