Currency Transaction Reports (CTRs) - how to avoid issues with filing

Under the Bank Secrecy Act (BSA), financial institutions and some other businesses must file a Currency Transaction Report (CTR) for cash transactions over $10,000. Deciding whether a CTR is needed is the easy part; completing it correctly takes more.

This 60-minute CTR training walks through the form using real-life examples. You'll see which customer information, usually gathered at onboarding, goes on the report, and how to capture the transaction itself: who conducted it, where the money was deposited, whether an armored car was involved and more.

The session also reviews exemptions, recent guidance from FinCEN and other regulators, and the common issues that cost staff time, while helping you build a reference library.

• Explain when a CTR is required under the BSA
• Identify the customer and transaction details a CTR needs
• Apply CTR exemptions correctly
• Complete a CTR using real-life examples
• Resolve common CTR filing issues
• Build a reference library for future filings

• Introduction to CTRs and BSA reporting obligations
• CTR exemptions
• Building a CTR reference library
• Recent guidance from FinCEN and other regulatory agencies
• Walking through the CTR with real-life examples
• Common issues and how to deal with them
• Tips and other considerations

CTRs help prevent money laundering, but recurring filing issues take up a lot of staff time. This session addresses those common problems and gives you ways to handle them, so filings are accurate and easier to complete.

It is designed for staff who complete or review CTRs and managers who oversee CTR filing.

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

Justin brings over 20 years of wide-ranging experience in compliance, training, and regulation in the financial services sector. Most recently, he served as Head of Compliance Training at Bank of China, where he led the compliance training function and created and monitored the annual training plan through a thorough training needs analysis. Previously, he served as Macquarie Group’s Head of Americas Compliance Training and J.P. Morgan Chase’s compliance training manager. He also worked for FINRA, a US regulator, where he created Examiner University to train examiners on how to perform their function.