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​​FinCEN extends orders requiring transparency in cash real estate purchases in 12 metro areas

( May 15, 2019, 19:29 GMT | Official Statement) -- MLex Summary: Real estate title insurance companies must continue to report the identity of the natural persons behind shell companies that buy properties worth $300,000 or more in all-cash transactions, the US Financial Crimes Enforcement Network said in announcing the extension of its geographic targeting orders for 12 metropolitan areas. "Reissuing the GTOs will further assist in tracking illicit funds and other criminal or illicit activity, as well as inform FinCEN’s future regulatory efforts in this sector," FinCEN said.Statement and documents follow below:...

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