FINANCIAL CRIMES ENFORCEMENT NETWORK ISSUES RULE: GEOGRAPHIC TARGETING ORDER IMPOSING RECORDKEEPING AND REPORTING REQUIREMENTS ON CERTAIN MONEY SERVICES BUSINESSES ALONG THE SOUTHWEST BORDER

WASHINGTON, Sept. 4 -- Financial Crimes Enforcement Network has issued a rule called: Geographic Targeting Order Imposing Recordkeeping and Reporting Requirements on Certain Money Services Businesses Along the Southwest Border.

The rule was published in the Federal Register on Sept. 4 by Jimmy L. Kirby, Deputy Director, Financial Crimes Enforcement Network.

Summary: FinCEN is issuing this Geographic Targeting Order, requiring certain money services businesses along the southwest border of the United States to report and retain records of transactions in currency of $1, 000 or more, but not more than $10, 000, and to verify the identity of persons presenting such transactions.

For more information, contact FinCEN's Regulatory Support Sect...