A Currency Transaction Report (CTR) is filed for which condition?

A Currency Transaction Report (CTR) is filed for which condition?

• A. A financial institution cash transaction exceeding $10,000 within 24 hours
• B. A bank has 15 days to file
• C. Not reportable to FinCEN
• D. Only for checks over $10,000

Answer: (A)

A Currency Transaction Report is triggered by large cash activity. When a financial institution handles a cash transaction that exceeds ten thousand dollars in a single day (24 hours), it must file a CTR. This captures substantial cash movements to help detect money laundering. The filing goes to FinCEN, and the form must be submitted within 15 days of the transaction date. Large cash transactions are the focus, not checks or other noncash instruments, which is why other choices don’t fit as the triggering condition.

A Currency Transaction Report is triggered by large cash activity. When a financial institution handles a cash transaction that exceeds ten thousand dollars in a single day (24 hours), it must file a CTR. This captures substantial cash movements to help detect money laundering. The filing goes to FinCEN, and the form must be submitted within 15 days of the transaction date. Large cash transactions are the focus, not checks or other noncash instruments, which is why other choices don’t fit as the triggering condition.