Treasury Tightens Financial Rules to Disrupt Mexican Cartel Money Laundering

Businesses in border areas in California and Texas must report cash transactions of more than $200.

Human smugglers drive ATVs on the Mexican side of the United States border wall near Jacumba, Calif., on Oct. 31, 2023. John Fredricks/The Epoch Times

The Trump administration is tightening financial rules at the U.S.–Mexico border in a bid to disrupt cartel money laundering, imposing new cash transaction reporting requirements on businesses operating in key border areas.

Under a Geographic Targeting Order (GTO) issued by the Treasury Department on March 11, businesses such as currency exchanges, check-cashing services, and money transfer providers in 30 ZIP codes across California and Texas must report all cash transactions of more than $200 to the Financial Crimes Enforcement Network.