FinCEN reissues southwest border reporting order for money services businesses

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FinCEN renews border reporting order

Highlights

FinCEN reissued its Geographic Targeting Order for money services businesses in specific New Mexico and Texas border counties to enhance tracking of illicit cash transactions.
The renewed order lowers the Currency Transaction Report threshold to transactions between $1,000 and $10,000, generating more granular data for law enforcement.
The requirement, effective 180 days from Federal Register publication, targets money flows linked to Mexico-based cartels and strengthens scrutiny of non-bank financial services at the southwest border.

Border cash reporting requirements

As FinCEN reported, the reissued Geographic Targeting Order requires certain money services businesses to file Currency Transaction Reports for covered cash transactions in specific ZIP codes in Bernalillo, Dona Ana, and San Juan counties in New Mexico, and Cameron, El Paso, Hidalgo, Maverick, and Webb counties in Texas.

The order is aimed at helping investigators track illicit finance tied to Mexico-based cartels, drug traffickers and other criminal actors operating along the southwest border. Money services businesses covered by the measure provide financial services outside the formal banking system.

Treasury Secretary Scott Bessent says the order is intended to give law enforcement actionable data to follow money flows linked to narcotics trafficking. FinCEN says the terms remain effective for 180 days after publication in the Federal Register.

Implications for enforcement and the financial sector

The renewed order increases scrutiny of cash activity in border areas that authorities view as vulnerable to money laundering and drug-related financial flows. By lowering the reporting threshold to transactions between $1,000 and $10,000, the measure is designed to generate more detailed transaction data than standard requirements.

FinCEN says the order will help local, state and federal investigators develop leads related to drug flows into the U.S. and associated laundering activity. The agency also says the reporting regime supports efforts to block individuals and entities tied to drug trafficking organizations from accessing the U.S. financial system.

Our earlier report on CBP’s proposed “Heightened Import Disclosures for Supply Chain Visibility” explained how the agency plans to expand supply-chain data collection to better identify high-risk shipments and curb illicit imports under Executive Order 14411. It outlined CBP’s request for public comment on steps such as clearer identification of key import parties, improved business identifiers, and the use of tracing technologies to strengthen enforcement while limiting burdens on legitimate trade.

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