ALTA Members Play Important Role in Preventing Illegal Purchase of Real Estate

January 14, 2016

ALTA released the following statement in response to the U.S. Department of Treasury Financial Crime Enforcement Network’s (FinCEN) Geographic Targeting Orders (GTO) announced Jan. 13:

“ALTA looks forward to continuing our work with FinCEN as our members implement this Order to help prevent money laundering schemes and the illegal purchase of real estate in the United States,” said Michelle Korsmo, ALTA’s chief executive officer. “ALTA is actively assisting our members to comply with these reporting requirements.”

“As the independent third-party at the closing table, ALTA members work to safeguard the real estate transaction for millions of Americans every year. Our work with FinCEN underscores ALTA members’ commitment to providing a compliant real estate settlement experience.”

Contact ALTA at 202-296-3671 or