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Zorluk: KolayAnti-Money Laundering (AML), KYC, and Sanctions Compliance

A customer deposits $12,000 in physical cash into a brokerage account during a single business day. Under the Bank Secrecy Act (BSA) rules, which report is the member firm required to file with the Financial Crimes Enforcement Network (FinCEN)?

Currency Transaction Report (CTR)Cevap
B
Suspicious Activity Report (SAR)
C
Office of Foreign Assets Control (OFAC) Blocked Property Report
D
Regulation S-P Disclosure Notice

Cevap

Currency Transaction Report (CTR)

Under the Bank Secrecy Act (BSA), broker-dealers must file a Currency Transaction Report (CTR) with FinCEN for any customer transaction involving more than $10,000 in physical cash in a single business day.

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1

Identify the transaction type and monetary amount

The transaction involves $12,000 in physical cash (currency) deposited in a single business day.

BSA regulations distinguish between physical cash currency transactions and electronic wire transfers or check deposits.

2

Apply federal anti-money laundering reporting thresholds

Since

12,000 exceeds the

10,000 physical currency threshold, a Currency Transaction Report (CTR) is required.

The Bank Secrecy Act mandates filing a CTR for any cash transaction exceeding $10,000 executed in a single business day.

Anahtar Kavram

Currency Transaction Report (CTR) Thresholds under the Bank Secrecy Act

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Konular

Anti-Money Laundering (AML), KYC, and Sanctions Compliance