T
itle insurance companies in certain US areas will be required to identify the owners of shell companies using cash to buy real estate, according to new FinCEN Geographic Targeting Orders (GTOs). The orders, issued by the Anti-Money Laundering unit of the US Treasury, take effect from April 15, 2025, and expire on October 9, 2025.

    The move is an extension of previous GTOs that were in place last year. FinCEN said the renewed orders will provide valuable data on illicit real estate transactions and help track illicit funds and other criminal activity.

    Title insurance firms must identify property owners to protect policyholders against challenges to rightful ownership. The new GTOs cover major US metropolitan areas, including California, Florida, New York, Texas, and Washington, among others. The purchase price threshold remains $300,000 for most areas, except for the City and County of Baltimore, where it's $50,000.

    FinCEN appreciates the cooperation of title insurance companies and the American Land Title Association in combating illicit real estate activity.