Currency Transaction Reports (CTRs): How To Deal With Common Issues

Justin Muscolino

Justin Muscolino

Justin brings over 20 years of wide-arranging experience in compliance, training, and regulations. He has previously worked in the Head of Compliance Training function for Macquarie Group, UBS, JPMorgan Chase, Bank of China, and GRC Solutions. Justin also runs his own Compliance Training company focusing on US & International...
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Pre-recorded
60 Mins
Justin Muscolino

CTRs are a mandatory filing requirement for financial institutions (and other industries) for transactions exceeding $10,000. While determining the necessity of a CTR is relatively straightforward, completing the form requires a nuanced understanding of your customer, much of which is obtained during the onboarding process. This constitutes one aspect of the equation. The next involves comprehending the financial transaction itself – understanding the conductor, the destination of the funds, involvement of services like armored cars, and various other details.

Consider the significant time spent grappling with "common" issues related to Currency Transaction Reports (CTRs). What if we could streamline these concerns and assist you in building a comprehensive reference library? That's precisely the objective of this training session.

Join us in this webinar where we will delve into the intricacies of CTRs, providing insights into both customer information and transaction specifics. We will address common issues that often arise and offer practical approaches to navigate them effectively.

Webinar Objectives

Within the framework of the Bank Secrecy Act (BSA), financial institutions operating in the United States are subject to specific reporting obligations. Among these obligations is the requirement to submit a Currency Transaction Report (CTR). It becomes mandatory to complete a CTR each time a customer engages in a currency transaction exceeding $10,000. We will explore various exemptions during this session. It's crucial to recognize that CTRs play a pivotal role in the prevention of money laundering.

Led by Justin Muscolino, this session aims to guide participants through the intricacies of completing a CTR, addressing common challenges, enriching our reference library, and illustrating concepts through real-life examples.

Webinar Agenda

  • Introduction to CTRs
  • Our reference library
  • Recent guidance from FinCEN and other regulatory agencies
  • Walking through the CTR with real-life examples
  • Discussion on common issues and how to deal with them!
  • Tips and other thoughts

Who Should Attend

  • Staff members who are responsible for completing and/or reviewing CTRs.
  • Managers who oversee the filings of CTRs.

 

To access this webinar, kindly reach out to our customer support team at support@complianceducator.com.

Credit(S)

IRS CPE Credits: 1 Tax hour

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