Tag Archives: AML

High-End, Cash-Only Real Estate Sales in Six Major Metropolitan Areas Remain Subject to Mandatory AML Reporting Requirements

On Feb. 23, 2017, the Financial Crimes Enforcement Network of the U.S. Department of the Treasury (FinCEN) extended by an additional six months its existing Geographic Targeting Orders (GTOs) that require U.S. title insurance companies, their subsidiaries and agents (collectively, the Title Insurance Companies) to identify the natural persons behind shell companies used to pay … Continue Reading

10 TRENDS: Getting Better All the Time

When Jennifer Shasky-Calvery, at the time the director of the Financial Crimes Enforcement Network (FinCEN), addressed attendees at G2E 2013, she brought a stern message to the industry. She called for a complete culture change in the industry with a dedication to rooting out financial crimes… or else. Since then, Bank Secrecy Act (BSA) and anti-money … Continue Reading

Greenberg Traurig is Proud to Sponsor and Participate in the 16th Annual FIBA AML Compliance Conference

Greenberg Traurig is proud to sponsor the 16th Annual FIBA AML Compliance Conference that will be held in Miami, FL, from March 7-9, 2016. Carl Fornaris, Shareholder in the GT Miami office, will participate as a moderator in the breakout session titled “Section 311 and Unintended Consequences – the Curious Cases of Banca Privada d’Andorra … Continue Reading

Manhattan and Miami Residential Real Estate Sales – What Are the New Treasury Department Anti-Money Laundering Requirements All About?

In January 2016, the Treasury Department announced “geographic targeting orders” (GTOs) that will require title insurance companies and their agents to obtain representative and ultimate beneficial ownership information when a legal entity purchases residential real estate in Manhattan or Miami-Dade County with purchases prices that exceed $3 million and $1 million, respectively. It is expected that this … Continue Reading

Proposed AML Program and SAR Reporting Requirements Nearing for Investment Advisers

On July 23, 2015, the Office of Management and Budget (OMB) completed its review of a proposed regulation submitted to OMB by the Financial Crimes Enforcement Network (FinCEN) of the U.S. Department of the Treasury that, when finalized into a final regulation, would require investment advisers to adopt and implement anti-money laundering (AML) program and … Continue Reading
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