ABCs
WHO
What
When
Why
100
CTR
What is the Currency Transaction report
100
Bancks, Trust Companies and Credit Union
Who nneds to complete CTRs
100
An attempt to disguise the source of a sum of money
What is Money Laundering
100
On March 31, 2013 FinCen stopped accepting SARs and CTRs in this manner
What is snail mail or via the US Postal Serivce. You must now e-file all reports.
100
To prevent Money Laundering
What is the reason why we must file CTRs
200
BSA
What is The Bank Secrecary Act
200
The organization that collects and collates CTRs and SARs to help prevent Money Laundering.
What is FinCEN - Financial Criem Enforcement Network
200
A single member makes deposits under $10,000 in a single day.
What is structuring
200
15 Days
What is the number of calendar days that FinCen allows for a Financial Institution to file a CTR
300
SAR
What is the Suspicious Transactioin Report
300
$10,000.01
What is the amount of cash deposits that trigger a CTR
400
FinCen
What is Financial Crime Enforcement Network
400
The person actually makeing a $15,000 deposit into an account that is not his.
Who is required to show ID and complete the CTR
400
The actual day on which a transaction took place and the Credit Union was open for normal business
Business day
500
OFAC
What is Office of Foreign Assets Control
M
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