A reissued geographic targeting order (GTO), revised from March, increases the dollar threshold to $1,000 for cash transactions that certain money services businesses (MSB) must report on currency transaction reports (CTRs), Treasury’s financial crimes enforcement arm said Monday.
The change revises the GTO issued this March by the Financial Crimes Enforcement Network (FinCEN). That order, related to a White House executive order on designating certain cartels and other organizations as foreign terrorist organizations (FTOs) and/or specially designated global terrorists (SDGTs), applied to all MSBs located within 30 ZIP codes in California and Texas near the border. Effective through Sept. 9, it requires MSBs to file CTRs on cash transactions involving more than $200 but not more than $10,000.
FinCEN said the reissued order, which takes effect Sept. 10, applies to transactions involving more than $1,000 but not more than $10,000. It covers the following geographic locations in Arizona, California, and Texas:
- Santa Cruz County, Ariz.
- Yuma County, Ariz.
- California ZIP codes (all within Imperial County): 92231, 92249, 92281, 92283
- California ZIP codes (all within San Diego County): 91910, 92101, 92113, 92117, 92126, 92154, 92173
- Cameron County, Texas
- El Paso County, Texas
- Hidalgo County, Texas
- Maverick County, Texas
- Webb County, Texas
The order will be published in the Federal Register.
FinCEN Issues Modified Southwest Border Geographic Targeting Order
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