The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) today renewed a Geographic Targeting Order (GTO) currently in place for armored cars and other common carriers of currency at two border crossings in Southern California and issued a new, similar, GTO applicable to carriers crossing the border at eight major ports of entry in Texas. The GTOs’ reporting and recordkeeping requirements are designed to enhance the transparency of cross-border money movements and prevent the attempted exploitation of reporting exemptions by some carriers suspected of moving dirty cash for Mexican drug trafficking organizations.
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