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FinCEN

Cash Purchases May Complicate Real Estate Buys From Sanctioned Countries

Real Estate Buys for Immigrants Complicated by Cash Purchases

Heightened Scrutiny of Real Estate Cash Purchases May Complicate Future Buys by Those Tied to Sanctioned Countries On January 13, 2016, the Financial Crimes Enforcement Network (FinCEN) issued two new Geographic Targeting Orders (GTOs) that will temporarily require US title insurance companies to identify the natural persons behind companies used to pay “all cash” for high-end residential […]

GTO Issued Against 700 Businesses to Curb Money Laundering in Miami

Geographic Targeting Order Issued Against Miami Businesses

FinCEN: Geographic Targeting Order Issued Against ~700 Miami Businesses; Requires Implementation of Elevated Anti-Money Laundering Controls. On April 15, 2015, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a Geographic Targeting Order (GTO) imposing additional anti-money laundering controls against businesses in Miami that export electronics.  This rarely utilized authority was last […]

Smurfing and OFAC

Transfers Under $10,000 Can Appear as Smurfing

How Your Under-$10,000 Transactions Can Actually Raise Your Profile for Investigations by the Feds. Whenever a U.S. financial institution is involved in a transaction …

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