BSA for Operations: CTRs

BSA compliance is the responsibility of everyone in your institution. On the operations side, you might be more involved when it comes to the filing of Currency Transaction Reports (CTRs) or maybe that falls on your BSA department. Either way, you still play a crucial role in detecting when a CTR (or even a suspicious activity report) may need to be filed.

Kevin explains more in the video.

Video Highlights:

• A CTR is required when cash activity exceeds more than $10,000 in any single day.
• Customers may layer their transactions to stay below the filing threshold.
• Layering or other structuring of transactions can be a red flag.

Published
2024/05/20