Geographic Targeting Orders

Financial Institutions

November 01, 2015
by Robin Guthridge, CAMS

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Robin Guthridge Robin Guthridge, CAMS
Senior Manager, Compliance

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A Geographic Targeting Order (GTO) is an order issued by the U.S. Treasury, generally via the Financial Crimes Enforcement Network (FinCEN), requiring any U.S. domestic financial institution or nonfinancial trade or business that exists within a targeted geographic area to report on cash transactions greater than a specified value.  GTOs only last for a limited period of time.  Originally, each order lasted 60 days; however, under Section 353 of the USA PATRIOT Act, such orders have been extended up to 180 days.  It is also not uncommon to have GTOs renewed, particularly if evidence of money laundering or terrorist financing persists.  Although GTOs are not uncommon, they rarely make the news, save for two recent notable orders.

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