FinCEN issues limited exemptive relief for Minnesota GTO
March 02, 2026 / By ICBA
The Financial Crimes Enforcement Network issued tailored exemptive relief related to the geographic targeting order imposing recordkeeping and reporting requirements on certain financial institutions in Hennepin and Ramsey Counties in Minnesota.
Details: FinCEN said:
The GTO came into effect on Feb. 12 and is intended to support the Treasury Department’s efforts to combat government benefits fraud.
The order provides targeted revisions to the scope of the reporting required under the GTO to ensure that Treasury is collecting the most useful, actionable, and relevant data.
Background: FinCEN in January published frequently asked questions pertaining to the GTO requiring all banks and money transmitters located in Hennepin County and Ramsey County to file reports on certain international funds transfers of $3,000 or more. The GTO is effective until Aug. 10.
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