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| -Land of the Free |
| ICE issues Geographic Targeting Order to 700 Miami-based businesses |
| 2015-04-22 |
| [U.S. Immigration and Customs Enforcement] WASHINGTON -- U.S. Immigration and Customs Enforcement's (ICE) Homeland Security Investigations (HSI) issued a Geographic Targeting Order (GTO) today to 700 businesses in Miami, bringing their transactions under stricter scrutiny while law enforcement look for evidence of trade-based money laundering schemes often used by violent criminal organizations to launder their profits. Probably nothing at all to do with the Cuban community in exile or the upcoming entry into the presidential race of another Bush. Under current regulations, a business that receives more than $10,000 in a single transaction, or several related transactions, must file Form 8300 with Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Department of the Treasury tasked with safeguarding financial systems from illicit use and combating money laundering. This GTO lowers that threshold to $3,000 for affected businesses. In addition to filing the form at the lower threshold, businesses must complete reports regarding persons involved in the transaction. The higher level of inspection enhances law enforcement's ability to identify and prosecute money launderers. Similar action no doubt pending with Wells Fargo and Mexican nationals forwarding of millions of USD each year south of the border. "A GTO is one of many tools available in the fight against money laundering. Past successes show that GTOs can be effective in exposing criminal organizations using legitimate financial institutions and businesses to facilitate their illicit dealings, "said HSI Executive Associate Director Peter Edge. "Homeland Security Investigations is dedicated to disrupting these activities and dismantling these organizations to protect the security of the nation's financial infrastructure." HSI partnered with the Financial Crimes Enforcement Network (FinCEN) and the Miami Dade State Attorney's Office South Florida Money Laundering Strike Force to issue this GTO, which is focused specifically on electronics exporters near Miami. "When we issued a similar GTO in the Los Angeles area last year, many speculated about whether we'd be doing the same in other parts of the country," said FinCEN Director Jennifer Shasky Calvery. "We will continue issuing GTOs, as necessary, as well as exercising FinCEN's other unique anti-money laundering authorities, to ensure a transparent financial system that impedes money launderers and other criminals from masking their identity and illicit activity." Notice of a GTO is sent to businesses via certified mail and failure to cooperate could result in civil and criminal penalties. Businesses covered by the GTO have been served a copy of the order and must begin to comply with the order April 28, 2015. A copy of the order may be found here. Any questions about the order should be directed to the FinCEN Resource Center at 800-767-2825. |
| Posted by:Besoeker |
| #6 So it's OK if you employ illegal aliens but it's not OK if you make too much money. |
| Posted by: Ebbang Uluque6305 2015-04-22 15:43 |
| #5 Champ is off to Florida and the Everglades for 'Earth Day.' Things are really messed with the Florida environment, sea water, sink holes, gators, foggy glass bottom boats, that sort of thing. More regulations needed.... fewer republicans, especially of the Bush variety. |
| Posted by: Besoeker 2015-04-22 10:48 |
| #4 Anybody ever suggested changing their name to Legal Immigration and Customs Enforcement? |
| Posted by: g(r)omgoru 2015-04-22 10:00 |
| #3 Links to anti-Castro groups or organizations? Wisconsin Part 2? |
| Posted by: P2Kontheroad 2015-04-22 07:49 |
| #2 Now, there's no need for any such operation in, say, Laredo or San Diego. Nope. |
| Posted by: ed in texas 2015-04-22 07:29 |
| #1 Cigar stores. |
| Posted by: Skidmark 2015-04-22 04:28 |