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FinCEN: Renews and Broadens Geographic Targeting Orders on Border Cash Shipments in CA and TX

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.

The GTOs temporarily modify the Report of International Transportation of Currency or Monetary Instruments (CMIR) requirements for common carriers of currency when physically moving more than $10,000 in cash across designated border crossings in California and Texas. The GTOs will require 100 percent CMIR reporting and recordkeeping by common carriers of currency at these border crossings because they eliminate the reporting exemption for these carriers that might otherwise apply to transporting currency from a foreign person to a bank. The GTOs’ enhanced reporting will also require common carriers of currency to note additional information when completing the CMIR. This includes the name and address of the currency originator; the name and address of the currency recipient; and the name and address of all other parties involved in the movement of currency and monetary instruments. This additional information significantly assists law enforcement’s ability to identify and prosecute illegal transportation of currency and disrupt the illicit movement of bulk cash across the southwest border.

FinCEN issued the GTOs in close coordination with U.S. Immigration and Customs Enforcement’s Homeland Security Investigations and U.S. Customs and Border Protection.

Common carriers of currency subject to the renewed Southern California GTO must continue complying with the enhanced reporting requirements until February 4, 2016. Common carriers of currency subject to the new GTO at ports of entry in Texas must comply with the enhanced reporting requirements from September 17, 2015 through March 15, 2016.

  • September 17, 2015
  • Time: All Day
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