A retail customer visits a broker-dealer branch office and deposits $11,500 in physical currency into their brokerage account. Under the Bank Secrecy Act and Anti-Money Laundering (AML) regulations, which mandatory reporting requirement must the member firm fulfill regarding this transaction?
- File a Currency Transaction Report (CTR) with FinCEN within 15 calendar days of the transaction.Cevap
- BFile a Suspicious Activity Report (SAR) with FinCEN within 30 calendar days of the transaction.
- CFile a Currency Transaction Report (CTR) with FINRA within 30 calendar days of the transaction.
- DFile a Suspicious Activity Report (SAR) with the SEC within 15 calendar days of the transaction.
Cevap
The member firm must file a Currency Transaction Report (CTR) with FinCEN within 15 calendar days of the transaction.
Under the Bank Secrecy Act (BSA), financial institutions including broker-dealers must file a Currency Transaction Report (CTR) with the Financial Crimes Enforcement Network (FinCEN) whenever a customer deposits, withdraws, or transfers more than $10,000 in cash or currency in a single business day. The CTR must be filed within 15 calendar days of the transaction date.
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Anahtar Kavram
Currency Transaction Report (CTR) Thresholds and Filing Timelines