Release of New Geographic Targeting Order by the US Treasury Department

The US Treasury’s Financial Crimes Enforcement Network (FinCEN) has issued a new Geographic Targeting Order which describes the Covered Transactions for which title companies are required to gather information on All-Cash Entity Buyers. The Order is in effect from November 17, 2018 to May 15, 2019.

Entity Buyers, such as Limited Liability Companies and Partnerships, can expect to be asked to furnish membership/management details of their organizations to complete a Currency Transaction Report.

Learn more about this order on the FinCEN website.