WebA CTR is required when: -Craig transfers $312,000 from his savings account to his checking account -Lisa deposits $9,000 in cash and $3,000 in checks -Tim purchases a bank check for $12,489 with a transfer from his checking account -Rajah wires $7,000 from his account to family in Dakar None of the above WebJan 27, 2024 · As outlined in the FFIEC BSA/AML Examination Manual, credit unions are required to electronically file a Currency Transaction Report (CTR) for each transaction in currency (deposit, withdrawal, exchange, or other payment or transfer) of more than $10,000 by, through, or to the credit union.

Report of Cash Payments Over 10000 Received in a Trade or

WebJan 3, 2024 · A CTR must be electronically filed within 15 calendar days following the day the reportable transaction occurs (31 CFR 1010.306 (a) (1)). The casino must retain copies of all filed Currency Transaction Report (CTR’s) for five years from the date of the report. WebA bank must maintain a record of all designation of persons exempt from CTR reporting as filed with the Treasury for a period of five years from the designation date. Customer Identification Program A bank must maintain a record of all information it obtains under its procedures for implementing its CIP. At a minimum, these records must include ... floor plan of shoprite

TRANSACTIONS OF EXEMPT PERSONS - Federal Financial …

WebA Currency Transaction Report (CTR) must be filed for each currency transaction over $10,000. Which option correctly describes a reportable currency transaction? A. A … WebA Currency Transaction Report (CTR) should be filed when a transaction or series of transactions exceeds the $10,000 threshold within a 24 hour period. A Suspicious Activity Report (SAR) must be filed when financial institutions become aware of suspicious behavior that could potentially be crime-related. How do you avoid CTR? floor plan of frogmore cottage