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By - Scott Aadal

Major FinCen Updates

Reader – please take note – there is a change in the Financial Crimes Enforcement Network’s (FinCen) Geographical Targeting Order (GTO). Now that I have your attention, I am sorry to say that I will now disappoint you with the limited scope of information that I am at liberty to convey. The terms of the GTO are confidential.  That’s right,

By - Scott Aadal

Nassau’s Rate Increase Implemented Without Notice

It was on Monday, September 28, 2015 that I wrote about Nassau County’s plan to significantly increase the fees they will charge to record land records. We all were alerted as to what the increases would be, but we had no idea when they would become effective. Yesterday afternoon, I received notice that Nassau County will make these increases effective

By - Scott Aadal

Nassau County Backs Down, Delays Implementing Recording Rate Increase

A little more than two weeks ago, Nassau County implemented an astronomical increase in the fees they charge for recording documents that are submitted into the land records. Not only was the increase HUGE, but they only gave the general public, title insurance companies included, 48 hours notice. This sudden increase in fees caused significant problems and complications for many

By - Scott Aadal

NY Real Estate and Swiss Bank Accounts

The New York real estate industry has seen a flurry of changes recently. Electronic recording is now available in many counties. The CFPB has recently issued new closing requirements. Local municipalities seem to be trying to (in part) make up for shortfalls in their budgets by increasing fees associated with our industry on a regular basis. Are you comfortable yet?

By - Scott Aadal

Here’s What’s Changing in the FinCEN Geographical Targeting Order

The Director of the Financial Crimes Enforcement Network (FinCEN) announced yesterday, (July 27, 2016) that they are EXTENDING the reporting requirements that are contained in the Geographical Targeting Order (GTO) that was put into effect on March 1. The original GTO was set to expire on August 27, 2016. It is now extended until February 23, 2017. Local Expansion They