New FinCEN Geographic Targeting Order Issued

The Financial Crimes Enforcement Network recently issued a new Geographic Targeting Order (GTO) to combat money laundering and illicit financial crimes with a coverage area in the southwest part of the country. The GTO requires all money services businesses across multiple jurisdictions within California and Texas to file Currency Transaction Reports (CTRs) with FinCEN for transactions of $200 or more.

Under the GTOs, title professionals are required to file additional information related to all-cash transactions in certain jurisdictions.

Read FinCEN's news release about the new GTO.