Today, the Financial Crimes Enforcement Network (FinCEN), working in conjunction with U.S. Internal Revenue Service – Criminal Investigation (IRS-CI) and the United States Attorney’s Office for the Southern District of Florida, issued a Geographic Targeting Order (GTO) for Miami-Dade and Broward counties. The GTO applies to check cashing business and requires check cashers to keep certain records in connection with the cashing of certain federal tax refund checks. In issuing the GTO, FinCEN explained the GTO was aimed at combating stolen identify tax refund fraud.
This GTO follows an unrelated GTO issued just three months earlier by FinCEN for certain ZIP codes within Miami-Dade County. This GTO is yet another stark reminder of law enforcement’s continued aggressive approach to anti-money laundering in South Florida and raises the possibility that additional GTOs may be forthcoming.