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Financial Crime, North America, US

ANALYSIS: Our checklist on what the FinCEN GTO means for financial services in California and Texas

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By SARAH BETH FELIX, Special Correspondent

FINCEN issued a monster of a Geographic Targeting Order (GTO) impacting financial firms in California and Texas.

This is for all money services businesses (MSBs) in 30 zip codes in the two states for any cash transaction $200 and up. The measure is aimed at disrupting cartel activity near the U.S.-Mexico border.

There are a few major issues for discussion and consideration –

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