CTR's at $200 in CA, TX
March 11, 2025
WASHINGTON – Today, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a Geographic Targeting Order (GTO) to further combat the illicit activities and money laundering of Mexico-based cartels and other criminal actors along the southwest border of the United States. The GTO requires all money services businesses (MSBs) located in 30 ZIP codes across California and Texas near the southwest border to file Currency Transaction Reports (CTRs) with FinCEN at a $200 threshold, in connection with cash transactions.
The order covers the following ZIP codes across seven counties in California and Texas:
Imperial County, California: 92231, 92249, 92281, 92283
San Diego County, California: 91910, 92101, 92113, 92117, 92126, 92154, 92173
Cameron County, Texas: 78520, 78521
El Paso County, Texas: 79901, 79902, 79903, 79905, 79907, 79935
Hidalgo County, Texas: 78503, 78557, 78572, 78577, 78596
Maverick County, Texas: 78852
Webb County, Texas: 78040, 78041, 78043, 78045, 78046
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The MoneyCruncher wrote:
In simple terms, if you spend or withdraw more than $200 in cash on money orders or traveler's checks, an MSB must file a report if you are in one of those 30 zip codes.
Currently, the threshold is $10,000, so this is a big change.
Who are MSBs? Per FinCEN:
1. Currency dealer or exchanger
2. Check casher
3. Issuer of traveler's checks, money orders or stored value
4. Seller or redeemer of traveler's checks, money orders or stored value
5. Money transmitter
6. U.S. Postal Service
The Currency Transaction Reports will include details about the person involved, such as their name, address, SSN, and transaction type.
FinCEN will maintain this information and share it with law enforcement for further investigation, if needed.
While the goal is to target cartels, this rule impacts families who send money overseas via money orders (e.g help parents) and unbanked individuals in those ZIP codes.
Currently, about 4.2% of U.S. households are unbanked and rely on money services businesses.
This burden could also push some MSBs to stop operating in these ZIP codes, limiting access to money transfer and check cashing services.
It could also lead MSBs to raise fees to offset compliance costs.
This Geographic Targeting Order will be in effect from April 14, 2025, to September 9, 2025.
MSBs will have 15 days after a transaction to file the Currency Transaction Report.
Failure to file may result in civil or criminal penalties.
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So I figure any casino cage in those zip codes are affected. Not sure there are any, but if there are. Also all WalMarts will be affected. Heck, every cash purchase in any store over $200 turns into a CTR, even groceries.
Usually this stuff happens days before they turn off the banks. Since it starts just before tax day, maybe people won't be getting their tax refunds. Are ATM's going to be limited to $180 withdrawals?
I just got my $200 rebate check from my phone company after a year of waiting. If I go to a bank and get cash in those counties, I'd need a CTR filled out at the bank. If I just deposit the check, there's no CTR.
Quote: ChumpChangeSnip: https://home.treasury.gov/news/press-releases/sb0048
March 11, 2025
WASHINGTON – Today, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a Geographic Targeting Order (GTO) to further combat the illicit activities and money laundering of Mexico-based cartels and other criminal actors along the southwest border of the United States. The GTO requires all money services businesses (MSBs) located in 30 ZIP codes across California and Texas near the southwest border to file Currency Transaction Reports (CTRs) with FinCEN at a $200 threshold, in connection with cash transactions.
The order covers the following ZIP codes across seven counties in California and Texas:
Imperial County, California: 92231, 92249, 92281, 92283
San Diego County, California: 91910, 92101, 92113, 92117, 92126, 92154, 92173
Cameron County, Texas: 78520, 78521
El Paso County, Texas: 79901, 79902, 79903, 79905, 79907, 79935
Hidalgo County, Texas: 78503, 78557, 78572, 78577, 78596
Maverick County, Texas: 78852
Webb County, Texas: 78040, 78041, 78043, 78045, 78046
link to original post
The order linked suggested it is a temporary requirement, which should begin in about a month, and last for about 6 months. (Yes, I recognize these temporary rules have a curious way of becoming permanent.)
Those $4.95 gift card fees are really going to eat into the flow, if people insist on trying to stay under the threshold. I think it is more likely that more smurfs appear, and they just don't care about the CTR filing.
Quote: ChumpChange
I just got my $200 rebate check from my phone company after a year of waiting. If I go to a bank and get cash in those counties, I'd need a CTR filled out at the bank. If I just deposit the check, there's no CTR.
The bank handles the CTR and doesn't require the person to do any paperwork. I have probably had over a 100 CTR's filed on me and I didn't have to do a thing.
Also, I assume it has to be over $200 as that is how it was when it was $10,000. $10,000 did not require a CTR but $10,000.01 would.
Quote: DRichQuote: ChumpChange
I just got my $200 rebate check from my phone company after a year of waiting. If I go to a bank and get cash in those counties, I'd need a CTR filled out at the bank. If I just deposit the check, there's no CTR.
The bank handles the CTR and doesn't require the person to do any paperwork. I have probably had over a 100 CTR's filed on me and I didn't have to do a thing.
Also, I assume it has to be over $200 as that is how it was when it was $10,000. $10,000 did not require a CTR but $10,000.01 would.
link to original post
I thought $9999 didn't set off whistles, but $10,000 did.
When taking cash out of the country, $10,000 is okay, but $10,001 sounds the alarm.
Quote: billryanQuote: DRichQuote: ChumpChange
I just got my $200 rebate check from my phone company after a year of waiting. If I go to a bank and get cash in those counties, I'd need a CTR filled out at the bank. If I just deposit the check, there's no CTR.
The bank handles the CTR and doesn't require the person to do any paperwork. I have probably had over a 100 CTR's filed on me and I didn't have to do a thing.
Also, I assume it has to be over $200 as that is how it was when it was $10,000. $10,000 did not require a CTR but $10,000.01 would.
link to original post
I thought $9999 didn't set off whistles, but $10,000 did.
When taking cash out of the country, $10,000 is okay, but $10,001 sounds the alarm.
link to original post
I agree with Rich, it's "over $10,000."
Quote: billryan
I thought $9999 didn't set off whistles, but $10,000 did.
When taking cash out of the country, $10,000 is okay, but $10,001 sounds the alarm.
link to original post
It was definitely over $10k. I taught FINCEN classes to the casinos. All casino employees must take a class once a year on CTR's and SAR's in Nevada. Personally, I thought it was foolish as the guy emptying ashtrays in the casino had to take the class. I only speak English and there were quite a few employees that didn't so it was a challenge to get them to pass the yearly test.
Quote: billryanOne source says $10,000 or more, and the other says more than $10,000. I'll take Rich's knowledge over either.
link to original post
Thank you. If you look at the FINCEN website it clearly states "exceeds $10,000".
Quote: Dieter
The order linked suggested it is a temporary requirement, which should begin in about a month, and last for about 6 months. (Yes, I recognize these temporary rules have a curious way of becoming permanent.)
Those $4.95 gift card fees are really going to eat into the flow, if people insist on trying to stay under the threshold. I think it is more likely that more smurfs appear, and they just don't care about the CTR filing.
link to original post
Kicking myself.
It shouldn't take me a day to catch on.
Clamming up before I get irate over politics.
Quote: ChumpChangeSnip: https://home.treasury.gov/news/press-releases/sb0048
March 11, 2025
WASHINGTON – Today, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a Geographic Targeting Order (GTO) to further combat the illicit activities and money laundering of Mexico-based cartels and other criminal actors along the southwest border of the United States. The GTO requires all money services businesses (MSBs) located in 30 ZIP codes across California and Texas near the southwest border to file Currency Transaction Reports (CTRs) with FinCEN at a $200 threshold, in connection with cash transactions.
The order covers the following ZIP codes across seven counties in California and Texas:
Imperial County, California: 92231, 92249, 92281, 92283
San Diego County, California: 91910, 92101, 92113, 92117, 92126, 92154, 92173
Cameron County, Texas: 78520, 78521
El Paso County, Texas: 79901, 79902, 79903, 79905, 79907, 79935
Hidalgo County, Texas: 78503, 78557, 78572, 78577, 78596
Maverick County, Texas: 78852
Webb County, Texas: 78040, 78041, 78043, 78045, 78046
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link to original post
I find it interesting that this order (from the Feds) is “only” in certain counties and “only” in Texas and California… Is this the intent of FinCEN, or were Arizona and New Mexico asked as well but declining to participate? Is FinCEN looking to see if patterns change (and in which directions)?
If my questions are over the line politically, I apologize. It is not my intention to bait anyone into a response that might get themselves suspended.
