Day: April 21, 2023
FinCEN RENEWS AND EXPANDS REAL ESTATE GEOGRAPHIC TARGETING ORDERS (GTO)
On 21 April, FinCEN advised the renewal and expansion of its Geographic Targeting Orders (GTO) that require US title insurance companies to identify the natural persons behind shell companies used in non-financed purchases of residential real estate. The expansion involves extending them to a number of new areas – to Litchfield County in Connecticut and Adams, Arapahoe, Clear Creek, Denver, Douglas, Eagle, Elbert, El Paso, Fremont, Jefferson, Mesa, Pitkin, Pueblo, and Summit counties in Colorado.
https://www.fincen.gov/sites/default/files/shared/508_FAQ_April2023REGTO.pdf
https://www.fincen.gov/sites/default/files/shared/508_Order_April2023REGTO.pdf
ST KITTS AND NEVIS DEFLAGS 36 TANKERS OWNED BY BIGGEST DARK FLEET SHIPOWNER
On 21 April, Lloyds List reported that the shipowner Gatik Ship Management built up a fleet worth $1.5 billion from scratch in 18 months, so that it comprised two thirds of ships flagged in the registry. In other news, Gatik Ship Management lost its protection and indemnity (P+I) insurance cover that was provided by the American Club.
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