WASHINGTON—Today, the U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) issued a Geographic Targeting Order (GTO) to further combat the illicit activities and money laundering of Mexico-based cartels and other criminal actors along the southwest
The order requires MSBs in 30 ZIP codes in California and Texas to file a currency transaction report (CTR) with the Treasury for any transaction of $200 or more. The current threshold for filing a CTR is $10,000. The total population of the covered ZIP codes is roughly 1.3 million