On Mar. 14, 2025, FinCEN published geographic targeting order in the federal register.
The terms of the GTO are effective beginning Apr. 14, 2025, through Sep. 9, 2025.
On Mar. 11, FinCEN issued geographic targeting order for CAL and TX.
FinCEN issued geographic targeting order (GTO) to further combat illicit activities and money laundering of Mexico-based cartels, criminals along the southwest border of US.
Geographic Targeting Order
Requires all MSBs located in 30 ZIP codes across California and Texas near southwest border to file Currency Transaction Reports (CTRs) with FinCEN at a $200 threshold.
Must report and retain records of transactions in currency of more than $200 but not more than $10,000, and to verify the identity of persons presenting such transactions.
Underscores concern with risk to US financial system of cartels along Southwest border
Order covers Imperial County and San Diego County in California, as well as Cameron County, El Paso County, Hidalgo County, Maverick County and Webb County in Texas.
Effectiveness
The terms of the GTO are effective beginning 30 days after the date on which the order is published in the federal register, terms are effective for 179 days thereafter.
Mar. 11, 2025 US Treasury Notice
On Mar. 11, 2025, US Treasury issued a notice of the FinCEN southwest border GTO.
Mar. 14, 2025 Fed Reg Order
On Mar. 14, 2025, FinCEN published geographic targeting order in the federal register.
The terms of the GTO are effective beginning Apr. 14, 2025, through Sep. 9, 2025.
