Regulatory Alerts2026-03-06
Geographic Targeting Order Imposing Recordkeeping and Reporting Requirements on Certain Money Services Businesses Along the Southwest Border
The Financial Crimes Enforcement Network issued a Geographic Targeting Order requiring money services businesses in specific southwest border counties and ZIP codes to report and retain records for currency transactions between $1,000 and $10,000. Covered businesses must file Currency Transaction Reports within 30 days and verify the identity of persons presenting such transactions before concluding the business. This order, effective from March 7, 2026, to September 2, 2026, aims to combat illicit finance by drug cartels and other actors while maintaining existing Bank Secrecy Act obligations.
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