Federal Mortgage LawsQuestion 54 of 400
A Currency Transaction Report (CTR) under the Bank Secrecy Act must generally be filed when a person conducts currency transactions exceeding what amount in a single business day?
a.More than $10,000
b.More than $5,000
c.More than $25,000
d.More than $50,000
Explanation
The BSA requires a CTR for currency (physical cash) transactions totaling more than $10,000 in a single business day by or on behalf of one person. This is distinct from a SAR, which is triggered by suspicion rather than a fixed dollar amount. Structuring transactions to evade the CTR threshold is itself illegal.
Law Reference: Bank Secrecy Act (Currency Transaction Report rules)Practice all 400 questions free — no signup required.
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