01/15/2026
Important Update for Our Clients
We want to share an important update regarding new federal requirements issued by Financial Crimes Enforcement Network (FinCEN) that impact real estate transactions nationwide.
FinCEN is the bureau of the U.S. Treasury charged with preventing money laundering, fraud, and illicit financial activity. In recent years, real estate transactions have been identified as an area of increased federal scrutiny. As a result, FinCEN has expanded rules that require greater transparency, identity verification, and reporting in certain real estate closings—particularly those involving entities, trusts, or large cash movements.
What this means for you:
Some transactions may require additional documentation
Buyers and sellers may be asked to provide more detailed identifying information
Certain ownership structures must be disclosed and verified
Closings may include new compliance steps required by federal law
Please understand: these requirements are not optional, and they are not unique to our company. They apply to title and closing agents across the country and are designed to protect the integrity of the real estate system.
At The Abstract & Title Company of Florence, Inc., we are actively preparing to implement these FinCEN compliance measures so that transactions continue to move forward smoothly, lawfully, and with minimal disruption. Our goal is to stay ahead of the requirements while continuing to provide efficient, professional service.
We appreciate your patience and cooperation as these changes roll out. If additional information is requested during your transaction, please know it is part of a federal compliance process—not an internal preference.
As always, we’re here to answer questions and guide you through every step of your closing with clarity and care.