FINANCIAL CRIMES ENFORCEMENT NETWORK ISSUES RULE: GEOGRAPHIC TARGETING ORDER IMPOSING RECORDKEEPING AND REPORTING REQUIREMENTS ON CERTAIN FINANCIAL INSTITUTIONS IN MINNESOTA

WASHINGTON, Jan. 13 -- Financial Crimes Enforcement Network has issued a rule called: Geographic Targeting Order Imposing Recordkeeping and Reporting Requirements on Certain Financial Institutions in Minnesota.

The rule was published in the Federal Register on Jan. 13 by Andrea M. Gacki, Director, Financial Crimes Enforcement Network.

Summary: FinCEN is issuing this Geographic Targeting Order, requiring banks and money transmitters located in the Counties of Hennepin and Ramsey, Minnesota to retain and report records of certain payments of $3, 000 or more.

For more information, contact FinCEN's Regulatory Support Section by submitting an inquiry at www.fincen.gov/contact.

The full text of the rule can be found at: http://www.gpo.gov/fds...