Watch out, these are the zip codes where transactions over $200 are under government scrutiny

Earlier this year, the US Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a Geographic Targeting Order (GTO) covering thirty zip codes in California and Texas. A GTO, according to the agency, is an “order issued by FinCEN under the Bank Secrecy Act (BSA) that imposes additional recordkeeping or reporting requirements on domestic financial institutions or other businesses in a specific geographic area.”

This specific GTO was prompted by an executive order signed by President Trump, which aimed to increase transaction reporting for businesses, as a way to go after drug cartels. The Trump administration, through FinCEN, hopes that with more data on cash transactions between monetary transactions between $200 and $10,000, they will be better able "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." Most transactions over $10,000 are already required to be reported to FinCEN.

Which businesses are impacted?

The order applies to what the federal government calls, money services businesses (MSBs), with examples listed including “certain dealers in foreign exchange, check cashers; issuers or sellers of traveler’s checks or money orders, providers or sellers of prepaid access, and money transmitters, as well as the U.S. Postal Service.”

Which zip codes are impacted by the order?

Businesses in the following zip codes are currently required to submit additional records to the FinCen:

How long will the order be in effect?

The GTO released in March will remain in effect through September 9, 2025. This means that for the foreseeable future, the transitions of millions could be reported to the federal government, including sensitive information such as one’s Social Security Number or their tax identification number for non-citizens.

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