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CURRENCY TRANSACTION REPORTING

CURRENCY TRANSACTION REPORTING FFIEC BSA/AML Examination manual 1 February 2021 CURRENCY TRANSACTION REPORTING Objective: Assess the bank s compliance with the BSA regulatory requirements for CURRENCY TRANSACTION REPORTING . Regulatory Requirements for CURRENCY TRANSACTION REPORTING This section outlines the regulatory requirements for banks found in 31 CFR Chapter X regarding reports of transactions in CURRENCY . Specifically, this section covers: 31 CFR 31 CFR 31 CFR 31 CFR 31 CFR Filing Obligations A bank must electronically file a CURRENCY TRANSACTION Report (CTR) for each TRANSACTION in currency1 (deposit, withdrawal, exchange of CURRENCY , or other payment or transfer) of more than $10,000 by, through, or to the These CURRENCY transactions need not be reported if they involve exempt persons, a group which can include commercial customers meeting specific criteria for Refer to the transactions of Exempt Persons section for more information.

Currency Transaction Reporting FFIEC BSA/AML Examination Manual 2 February 2021 . card. In each instance, the specific identifying information (e.g., the driver’s license number) used in verifying the identity of the customer must be recorded on the report. The mere notation

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