TITLE: United States Financial Crimes Enforcement Network Issues Geographic Targeting Order for Southwest Border Money Services Businesses
BODY:
On March 10, 2026, the Financial Crimes Enforcement Network (FinCEN), part of the U.S. Department of the Treasury, issued a Geographic Targeting Order (GTO) requiring money services businesses in specified counties and ZIP codes along the southwest border to implement enhanced recordkeeping and reporting requirements.
The order applies to covered money services businesses located in Arizona (Maricopa, Pima, Santa Cruz, and Yuma counties); Texas (Cameron, El Paso, Hidalgo, Maverick, and Webb counties); New Mexico (Bernalillo, Dona Ana, and San Juan counties); and specific ZIP codes in California (Imperial and San Diego counties). Covered businesses must report and retain records of all currency transactions between $1,000 and $10,000, and verify customer identity before concluding such transactions. Reports must be filed with FinCEN on Currency Transaction Reports within 30 days of the transaction, with specific identifying information recorded. The order does not modify existing Bank Secrecy Act (BSA) obligations, including filing Currency Transaction Reports for transactions exceeding $10,000 and Suspicious Activity Reports where appropriate.
The order is effective from March 7, 2026, through September 2, 2026, with a maximum 180-day duration unless renewed. The compliance date for businesses not previously covered under FinCEN's prior Geographic Targeting Order (issued September 10, 2025) is April 6, 2026. Covered businesses must retain all compliance records for five years from the order's expiration. Noncompliance may result in civil or criminal penalties. The order is part of Treasury's efforts to combat illicit finance by drug cartels and other illicit actors along the southwest border.
REFERENCES:
https://www.federalregister.gov/documents/2026-03-10/2026-04641/geographic-targeting-order-imposing-recordkeeping-and-reporting-requirements-on-certain-money-services