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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
Giải thích
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.
Trích dẫn luật: Bank Secrecy Act (Currency Transaction Report rules)Luyện miễn phí toàn bộ 400 câu hỏi — không cần đăng ký.
Câu hỏi liên quan cùng chủ đề
- A residential mortgage loan originator notices a borrower structuring a large cash down payment into several deposits just under the reporting threshold. Under the Bank Secrecy Act, where must the company file a report of this suspicious activity?
- After detecting activity that appears suspicious, within how many calendar days must a covered mortgage company generally file a Suspicious Activity Report?
- A borrower asks a loan officer directly whether the company filed a Suspicious Activity Report about his transaction. What is the loan officer permitted to do under the Bank Secrecy Act?
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- A loan originator is paid a commission by the borrower directly on a transaction. On that same transaction, the originator also wants to collect a commission from the lender. What does the LO Compensation Rule say about this?
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