FINANCIAL CRIMES ENFORCEMENT NETWORK ISSUES RULE: GEOGRAPHIC TARGETING ORDER IMPOSING RECORDKEEPING AND REPORTING REQUIREMENTS ON CERTAIN MONEY SERVICES BUSINESSES ALONG THE SOUTHWEST BORDER

WASHINGTON, Sept. 10 -- Financial Crimes Enforcement Network has issued a rule called: Geographic Targeting Order Imposing Recordkeeping and Reporting Requirements on Certain Money Services Businesses Along the Southwest Border.

The rule was published in the Federal Register on Sept. 10 by Andrea M. Gacki, Director, Financial Crimes Enforcement Network.

Summary: FinCEN is issuing this Geographic Targeting Order, requiring certain money services businesses along the southwest border of the United States 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. This Order follows a previously issued Geographic Targeting Order, ...