Currency Transaction Reporting (CTR) – Basic Requirements and Recent Updates – ON-DEMAND WEBINARS

Date Recorded: February 18, 2022

Presenter: Mark Dever, AAP, CAMS, Vice President, FORVIS

A two-hour webinar to update members of the compliance and audit staffs on the “challenges” presented when completing the CTR. An integral part of the BSA landscape for over fifty years, proper CTR completion continues to play a critical role in a financial institution’s overall compliance with the BSA. FinCEN and its law enforcement partners continue to utilize information provided through BSA filings in their efforts to confront serious threats, including terrorist organizations, rogue nations, WMD proliferators, foreign grand corruption, and increasingly serious cyber threats as well as transnational criminal organizations. This webinar will review feedback from seminar attendees and examiners on the proper completion of the CTR.

Here’s What You’ll Learn:

• Basic CTR filing requirements;
• Currency Reporting on:
  • Sole Proprietorships;
  • Legal Entities;
  • Joint Personal Accounts;
  • Trust Accounts;
  • Government Entities; and
  • Beneficial Owners;
• FinCEN 2012-G001;
• Part 1, Line 2 completion;
• Multiple vs Aggregated Transactions;
• Bank to Bank Currency Transfers;
• Armored Car Transports;
• Exemption Reminders; and
• Allow questions from participants.

Recent well-publicized BSA enforcement actions, fines, and deferred prosecution agreements continue to support a climate proving BSA compliance remains of paramount importance to all financial institutions. This two-hour webinar from FORVIS will provide the compliance and audit staffs with a current “snapshot” of the challenges associated with the proper completion of the CTR.