CTR Exemptions
Our December AML/CFT Membership Group meeting was full of great information. We covered several recent happenings in the BSA/AML/CFT world, looked at the Currency Transaction Report (CTR) exemption requirements and much more.
Specifically, Kevin dove into an institution’s right to exempt certain qualifying businesses from the necessity of filing those currency transaction reports as well as some insights and common pitfalls when filling out the Designation of Exempt Person from.
2026 is sure to be full of changes when it comes to your BSA Program so join our group today and stay on top of it all!
Published
2026/01/08
Kevin Edwards
Kevin brings years of experience and a unique perspective on regulatory matters to our clients. A self-proclaimed geek and accredited CRCM, Kevin is also a recovering attorney with experience as in-house counsel for a large regional bank and one of the leading national title insurance providers. For reasons unknown, Kevin decided to leave the safety and serenity of his desk job to seek fortune and glory as a wandering adventurer. Like a bank compliance version of Kwai Chang Caine, The Man with No Name or Don Quixote, he now travels the land seeking to help those in need and righting compliance wrongs, wherever he may find them. Kevin lives in Sioux Falls with his two children, who are surprisingly normal after having endured their father’s vivid imagination for their entire lives. He won’t admit to having any hobbies, because apparently “Regulations never sleep.” (While he does say this in his Batman voice, we’re pretty sure he’s joking.) From the looks of his Facebook page, he likes the outdoors and spending time with his large extended family (who seem like relatively normal people).