FinCEN Expands GTO Reporting to More Texas Counties, Adjusts Thresholds and Requirements

In an effort to identify money-laundering schemes, the U.S. Treasury Department Financial Crimes Enforcement Network (FinCEN) has issued an updated Geographic Targeting Order (GTO) requiring all title insurance companies to identify and report the name of any natural individual who has an ownership stake greater than 25% in a corporation, LLC or other legal entity that makes all-cash or cryptocurrency purchases for residential real estate $300,000 or greater. In Texas, these reporting requirements are limited to transactions occurring in Bexar, Tarrant or Dallas counties.

FinCEN Press Release Regarding Expanded GTO
Learn More Via TLTA's FinCEN Resources Webpage