SOURCE: American Land Title Association (ALTA)

American Land Title Association (ALTA)

February 23, 2017 13:27 ET

ALTA Statement on FinCEN's Extension of Money Laundering Prevention Effort

ALTA Members Will Continue to Help Government Identify Illegal Transactions in 6 Metro Areas

WASHINGTON, DC--(Marketwired - February 23, 2017) - The American Land Title Association (ALTA), the national trade association of the land title insurance industry, released the following statement in response to the United States Department of Treasury Financial Crime Enforcement Network's (FinCEN) announcement that it will extend its Geographic Targeting Orders (GTO):

"Our members have collected this information for more than a year and the good news is those efforts appear to be beneficial to the government's work identifying money laundering schemes and the illegal purchase of real estate," said Michelle Korsmo, ALTA's chief executive officer. "We continue to work closely with our members and FinCEN to collect the needed information as efficiently as possible."

Click here to access ALTA's FAQs and more information about FinCEN's GTOs.

About ALTA

The American Land Title Association, founded in 1907, is the national trade association representing 6,200 title insurance companies, title and settlement agents, independent abstracters, title searchers, and real estate attorneys. With offices throughout the United States, ALTA members conduct title searches, examinations, closings, and issue title insurance that protects real property owners and mortgage lenders against losses from defects in titles.

Contact Information

  • Contact:
    Wayne M. Stanley
    Direct Office Line: 202-261-2932
    Cell: 765-432-7094
    Email: wstanley@alta.org