Which entity files a CTR?

Which entity files a CTR?

• A. Customers
• B. Merchants
• C. Regulatory agencies
• D. U.S. financial institutions

Answer: (D)

Currency Transaction Reports are part of the Bank Secrecy Act. When a cash transaction or related cash activity exceeds a set threshold in a single business day, a U.S. financial institution must file a CTR with FinCEN. This requirement rests with entities that handle banking services and cash transactions, not with customers, merchants, or regulatory agencies. The CTR is designed to help detect and monitor large cash movements that could indicate money laundering or other illicit activity, distinguishing it from reports filed for suspicious activity (which can apply to smaller or unusual patterns as well).

Currency Transaction Reports are part of the Bank Secrecy Act. When a cash transaction or related cash activity exceeds a set threshold in a single business day, a U.S. financial institution must file a CTR with FinCEN. This requirement rests with entities that handle banking services and cash transactions, not with customers, merchants, or regulatory agencies. The CTR is designed to help detect and monitor large cash movements that could indicate money laundering or other illicit activity, distinguishing it from reports filed for suspicious activity (which can apply to smaller or unusual patterns as well).