FinCEN expands its Geographic Targeting Order along the U.S. southwest border, requiring MSBs to report and verify $1,000–$10,000 cash transactions to disrupt Mexico-based cartels

The order mandates that money services businesses in specified counties along the U.S.–Mexico border report cash transactions above a lowered threshold of $200, aiming to detect and disrupt illicit financial flows associated with drug cartels and transnational criminal organisations. FinCEN states that the enhanced reporting will strengthen law-enforcement visibility into cross-border financial activity and support efforts to combat money laundering, narcotics trafficking and related criminal networks operating in the region…