The Financial Crimes Enforcement Network has released an FAQ on a geographic targeting order targeting multiple counties and ZIP codes in four states along the Southwest U.S. border.
The order requires certain money services businesses in 12 counties in Arizona, Texas and New Mexico and several California ZIP codes to report and retain records of transactions in currency of $1,000 or more, but not more than $10,000, and to verify the identity of persons presenting such transactions.
The FAQ explains why the order was issued, which businesses are covered, which transactions must be reported, and more.
