Regulatory Alerts2025-09-10
Added · Updated
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 Arizona, Texas, and California border counties to report and retain records for currency transactions between $1,000 and $10,000. Covered businesses must verify customer identity and file Currency Transaction Reports electronically within 30 days of the transaction. This order is effective from September 10, 2025, through March 6, 2026, and applies to combat illicit finance by drug cartels and other actors along the southwest border.