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Will money business transactions of $200 or more be subject to federal reporting in some parts of El Paso? [1]
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Date: 2025-04-08
Editor’s Note: El Paso Matters is partnering with Gigafact to produce “fact briefs” that examine claims about issues shaping our community.
Yes.
Starting April 14, 2025, money service businesses in parts of El Paso must report to the crime enforcement bureau of the U.S. Treasury Department any deposit, withdrawal, payment or transfer between $200 and $10,000, according to a Geographic Targeting Order issued by the department March 14, 2025.
The treasury already requires transactions of more than $10,000 be reported.
The new order affects ZIP codes across the U.S., including in El Paso, Hidalgo, Maverick and Webb counties in Texas. El Paso ZIP codes under this order: 79901, 79902, 79903, 79905, 79907 and 79935 – encompassing South-Central and the Lower Valley near ports of entry.
The order was issued to “combat the illicit activities and money laundering of Mexico-based cartels and other criminal actors,” the Treasury said in a statement.
Businesses must retain documents recorded under the order for five years, following its expiration on Sept. 9, 2025.
This fact brief is responsive to conversations such as this one.
Sources
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[1] Url:
https://elpasomatters.org/2025/04/08/gigafact-fact-brief-el-paso-money-transfers-federal-reporting/
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