Recently, the House and Senate passed the Corporate Transparency Act as part of the larger National Defense Authorization Act, sending it to the President’s desk by a veto-proof majority. They did so, appropriately, the same week as International Anti-Corruption Day.… Continue Reading
Posts Tagged: geographic targeting order
The Treasury Department’s Financial Crimes Enforcement Network issued an order Thursday expanding the requirement for title insurance companies to report the beneficial owners of shell companies buying residential real estate for cash or cryptocurrencies.… Continue Reading
I have written several times in the past about how anonymous/shell companies facilitate corruption and limit the ability of investigators to hold corrupt officials accountable. I have also been critical of the limited progress in the United States on this front. … Continue Reading
The Treasury Department’s Financial Crimes Enforcement Network renewed rules Thursday that force U.S. title insurance companies to identify the natural persons behind companies used to pay all cash for high-end residential real estate in some parts of the country.… Continue Reading
The Financial Crimes Enforcement Network (FinCEN) is expanding required reporting of beneficial owners for cash real estate purchases beyond Manhattan and Miami to six new areas in California and Texas.
The Geographic Targeting Orders (GTOs) require title insurance companies to identify the natural persons behind domestic and foreign companies used to pay all cash for luxury residential real estate in six major metropolitan areas.… Continue Reading