The Financial Crimes Enforcement Network published responses to frequently asked questions about its March 11 Geographic Targeting Order to combat the illicit activities and money laundering of Mexico-based cartels and other criminal actors along the southwest border of the United States.
Background: The GTO requires all money services businesses located in 30 ZIP codes across California and Texas near the southwest border to file additional Currency Transaction Reports with FinCEN for transactions above $200 but not more than $10,000.
Effective Dates: The terms of the GTO are effective from April 14 to Sept. 9.