{"id":5780,"date":"2021-11-01T15:07:07","date_gmt":"2021-11-01T20:07:07","guid":{"rendered":"https:\/\/nwfl4sale.com\/fincen-targeting-extended-for-six-months-in-s-fla\/"},"modified":"2021-11-01T15:07:07","modified_gmt":"2021-11-01T20:07:07","slug":"fincen-targeting-extended-for-six-months-in-s-fla","status":"publish","type":"post","link":"https:\/\/nwfl4sale.com\/fincen-targeting-extended-for-six-months-in-s-fla\/","title":{"rendered":"FinCEN Targeting Extended for Six Months in S. Fla."},"content":{"rendered":"

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By Kerry Smith<\/div><\/div>\n
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The rule that requires title companies to identify actual buyers \u2013 not shell companies \u2013 in 12 major U.S. metro areas now stays in effect until April 29, 2022.<\/span><\/span><\/p>\n<\/div>\n

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WASHINGTON \u2013 The Financial Crimes Enforcement Network (FinCEN) announced the renewal of its Geographic Targeting Orders<\/a> (GTOs). The rules require U.S. title insurance companies to identify the natural persons behind shell companies used in all-cash purchases of residential real estate of $300,000 or more in each covered metropolitan area.<\/span><\/span><\/p>\n

Of the 10 major U.S. metros under FinCEN\u2019s targeting rules, one is in Florida: The South Florida counties of Miami-Dade, Broward and Palm Beach. Without an extension, the last order was due to expire on Nov. 1, 2021.<\/span><\/span><\/p>\n

The overall targeting orders are an attempt to identify and stop money laundering, which is generally considered a way to make ill-gotten gains become \u2013 or appear to become \u2013 legitimate by investing in real estate, businesses or other enterprises.<\/span><\/span><\/p>\n

According to FinCEN, the GTOs provide \u201cvaluable data on the purchase of residential real estate by persons possibly involved in various illicit enterprises.\u201d<\/span><\/span><\/p>\n

The 12 U.S. metros included in FinCEN\u2019s GOT extension include the full metro areas surrounding:<\/span><\/span><\/p>\n

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  1. Boston<\/span><\/span><\/li>\n
  2. Chicago<\/span><\/span><\/li>\n
  3. Dallas-Fort Worth<\/span><\/span><\/li>\n
  4. Honolulu<\/span><\/span><\/li>\n
  5. Las Vegas<\/span><\/span><\/li>\n
  6. Los Angeles<\/span><\/span><\/li>\n
  7. Miami<\/span><\/span><\/li>\n
  8. New York City<\/span><\/span><\/li>\n
  9. San Antonio<\/span><\/span><\/li>\n
  10. San Diego<\/span><\/span><\/li>\n
  11. San Francisco<\/span><\/span><\/li>\n
  12. Seattle<\/span><\/span><\/li>\n<\/ol>\n

    \u00a9 2021 Florida Realtors\u00ae<\/span><\/span><\/p>\n<\/div><\/div>\n

    Go to Source<\/a>
    \nAuthor: kerrys<\/p>\n","protected":false},"excerpt":{"rendered":"

    By Kerry Smith The rule that requires title companies to identify actual buyers \u2013 not shell companies \u2013 in 12 major U.S. metro areas now stays in effect until April 29, 2022. WASHINGTON \u2013 The Financial Crimes Enforcement Network (FinCEN) announced the renewal of its Geographic Targeting Orders (GTOs). The rules require U.S. title insurance companies to identify the natural persons behind shell companies used in all-cash purchases of residential real estate of $300,000 or more in each covered metropolitan area. Of the 10 major U.S. metros under FinCEN\u2019s targeting rules, one is in Florida: The South Florida counties of Miami-Dade, Broward and Palm Beach. Without an extension, the last order was due to expire on Nov. 1, 2021. The overall targeting orders are an attempt to identify and stop money laundering, which is generally considered a way to make ill-gotten gains become \u2013 or appear to become \u2013 legitimate by investing in real estate, businesses or other enterprises. According to FinCEN, the GTOs provide \u201cvaluable data on the purchase of residential real estate by persons possibly involved in various illicit enterprises.\u201d The 12 U.S. metros included in FinCEN\u2019s GOT extension include the full metro areas surrounding: Boston Chicago Dallas-Fort Worth Honolulu Las Vegas Los Angeles Miami New York City San Antonio San Diego San Francisco Seattle \u00a9 2021 Florida Realtors\u00ae Go to Source Author: kerrys<\/p>\n","protected":false},"author":4,"featured_media":5781,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/posts\/5780"}],"collection":[{"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/comments?post=5780"}],"version-history":[{"count":0,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/posts\/5780\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/media\/5781"}],"wp:attachment":[{"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/media?parent=5780"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/categories?post=5780"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/tags?post=5780"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}