FinCEN Eyes Southwest Border Cash Deals Closely
Published Date: 3/14/2025
Rule
Summary
FinCEN is making some money services businesses along the U.S. southwest border keep better records and report cash transactions between $200 and $10,000. These businesses also have to check who’s making these transactions. This helps catch sneaky money moves and keeps things safe, starting right away!
Analyzed Economic Effects
2 provisions identified: 0 benefits, 2 costs, 0 mixed.
MSBs Must Record Cash Transactions
Certain money services businesses (MSBs) along the U.S. southwest border must report and keep records of cash transactions of more than $200 but not more than $10,000. These MSBs also must verify the identity of the people making those transactions. This requirement applies to MSBs operating along the southwest border and takes effect starting right away.
Customers Face ID Checks and Reporting
If you do business with certain money services businesses along the U.S. southwest border and make a cash transaction of more than $200 but not more than $10,000, the business must verify your identity and report and retain records of the transaction. This requirement covers transactions in currency between $200 and $10,000 and begins starting right away.
Your PRIA Score
Personalized for You
How does this regulation affect your finances?
Sign up for a PRIA Policy Scan to see your personalized alignment score for this federal register document and every other regulation we track. We analyze your financial profile against policy provisions to show you exactly what matters to your wallet.
Key Dates
Department and Agencies
Related Federal Register Documents
2025-05199 — Beneficial Ownership Information Reporting Requirement Revision and Deadline Extension
FinCEN is making it easier for U.S. companies by only requiring foreign companies to report who really owns them. Domestic companies don’t have to report or update their ownership info anymore. Plus, foreign companies get more time—30 days—to file or fix their reports, and they don’t have to share info about U.S. owners, saving time and hassle.
2026-08363 — Agency Information Collection Activities; Proposed Renewal; Comment Request; Renewal Without Change of the Registration of Money Services Businesses Regulation and FinCEN Form 107
FinCEN is renewing the rules that require money services businesses—like money transfer companies and check cashers—to register every two years using Form 107. There are no changes to the rules, but FinCEN wants your comments by June 29, 2026. This keeps things clear and simple while helping prevent financial crimes without adding extra paperwork or costs.
2026-07416 — Imposition of Special Measure Prohibiting Certain Transmittals of Funds Involving CIBanco S.A., Institución de Banca Multiple; Amendment
FinCEN is updating its rules about CIBanco, a Mexican bank linked to illegal opioid money. The new change lets certain payments go through so Mexico’s government can take control of CIBanco. This update starts on April 16, 2026, and affects anyone sending money involving this bank.
2026-06963 — Permitted Payment Stablecoin Issuer Anti-Money Laundering/Countering the Financing of Terrorism Program and Sanctions Compliance Program Requirements
The Treasury is proposing new rules that treat stablecoin issuers like banks to stop money laundering and terrorism funding. These rules require stablecoin companies to have strong anti-money laundering and sanctions programs, making the crypto world safer. Comments on the proposal are open until June 9, 2026, and these changes could mean more compliance costs for stablecoin businesses.
2026-07033 — Anti-Money Laundering and Countering the Financing of Terrorism Programs
FinCEN is shaking up the rules for banks and financial companies to fight money laundering and terrorism funding better. They want these businesses to have stronger, clearer programs that help catch bad guys faster and work smoothly with law enforcement. Comments on these changes are open until June 9, 2026, so get ready to weigh in!
2026-06271 — Whistleblower Incentives and Protections
FinCEN is rolling out a new whistleblower program to reward and protect people who report shady financial crimes like money laundering and terrorist financing. This program affects anyone with insider info on violations of key laws and aims to keep our financial system safe. Comments on the proposed rules are open until June 1, 2026, and whistleblowers could earn cash rewards for their tips!
Previous / Next Documents
Previous: 2025-04064 — Delegation of Authority to Director of the Division of Enforcement
The SEC is changing who can issue formal investigation orders by taking that power away from the Director of Enforcement. This means the Commission itself will handle these orders to better focus on important cases. The change aims to make investigations sharper and more in line with the SEC’s top priorities, with no new costs or delays expected.
Next: 2025-04114 — Payment of Indemnity and Compensation for Highly Pathogenic Avian Influenza; Reopening of Comment Period
We’re giving folks more time to share their thoughts on new rules about paying farmers when deadly bird flu hits their flocks. This update affects poultry farmers and others involved in bird flu outbreaks, making sure payments are fair and clear. Don’t miss your chance to speak up before the new deadline!