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Rebeca Romero Rainey: The spirit of service

Independent Banker

With that two-pronged concentration, I can’t help but consider the connection between our role of service and the impact regulation can have on our very ability to serve. On the other end of the spectrum, rigidity is intrinsic to regulation. Overzealous regulation will limit a product specifically designed to protect their interests.

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FinCEN reissues real estate Geographic Targeting Orders

Abrigo

While title insurance companies are required to collect and report data on covered transactions, regulators expect financial institutions to have procedures in place to detect these transactions. BSA Rules and Regulation. BSA Rules and Regulation. BSA Rules and Regulation. keep me informed. Customer Due Diligence.

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Buying into AML risks in real estate

Abrigo

Regulations such as Geographic Targeting Order updates help identify AML risks by requiring identification for certain real estate purchases. The limited regulation around the real estate industry has made it especially easy for these bad actors to cycle their dirty money into the financial system using this avenue.

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FinCEN Reissues Real Estate Geographic Targeting Orders: What does this mean for you?

Abrigo

The newest order include s : Boston Chicago Dallas-Fort Worth Honolulu Las Vegas Los Angeles Miami New York City San Antonio San Diego San Francisco Seattle . BSA Rules and Regulation. BSA Rules and Regulation. What does this GTO mean for your institution? Customer Due Diligence. Learn More.

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FinCEN Tightens Real Estate Cash-Buyer Reporting Threshold

PYMNTS

While the previous purchase amount threshold varied by city, it’s now set at $300,000 for each metropolitan area, covering certain counties within the following major locations: Boston, Chicago, Dallas-Fort Worth, Honolulu, Las Vegas, Los Angeles, Miami, New York City, San Antonio, San Diego, San Francisco and Seattle.

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FinCEN Reissues Real Estate Geographic Targeting Orders

Abrigo

including: Boston Chicago Dallas-Fort Worth Honolulu Las Vegas Los Angeles Miami New York City San Antonio San Diego San Francisco Seattle . New York City and Miami were the original targets under the first order in 2016, but it has expanded periodically since then. learn more.

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Offering advisory services: Piecemeal or holistic approach?

Abrigo

“The challenge with the piecemeal approach right now is that every project becomes a new and different project,” says Donny Shimamoto, CPA.CITP, CGMA, founder of advisory-focused CPA firm IntrapriseTechKnowlogies LLC in Honolulu and a nationally recognized accounting technology thought leader. “If

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