Story perspectives

New Cash Reporting Rules Target Money Laundering in Border States

3/16/2025

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Summary

Story summary

The Financial Crimes Enforcement Network has launched a new Geographic Targeting Order for California and Texas to address money laundering.
Effective April 14 to September 9, businesses must report cash transactions exceeding $200, significantly lowering the previous threshold of $10,000.
The order specifically targets certain ZIP codes, particularly in border communities like El Paso.
Reactions vary, with some endorsing enhanced security measures and others concerned about effects on legitimate transactions.

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Story summary

The Financial Crimes Enforcement Network has launched a new Geographic Targeting Order for California and Texas to address money laundering.
Effective April 14 to September 9, businesses must report cash transactions exceeding $200, significantly lowering the previous threshold of $10,000.
The order specifically targets certain ZIP codes, particularly in border communities like El Paso.
Reactions vary, with some endorsing enhanced security measures and others concerned about effects on legitimate transactions.