Which statement about CTR threshold is true?

Which statement about CTR threshold is true?

• A. A CTR is filed for currency transactions exceeding $10,000.
• B. A CTR is filed for all transactions regardless of amount.
• C. A CTR is only for cash deposits under $10,000.
• D. A CTR is filed for international transfers only.

Answer: (A)

The main idea here is how reporting of large cash movements works. A Currency Transaction Report is required whenever cash transactions reach or exceed ten thousand dollars, and this can apply to a single cash transaction or a group of related transactions within a 24-hour period. The goal is to capture significant cash activity to help detect money laundering and other illicit activity. So the true statement is that a CTR is filed for currency transactions exceeding $10,000. It’s not about every transaction, nor limited to deposits under $10,000, nor restricted to international transfers.

The main idea here is how reporting of large cash movements works. A Currency Transaction Report is required whenever cash transactions reach or exceed ten thousand dollars, and this can apply to a single cash transaction or a group of related transactions within a 24-hour period. The goal is to capture significant cash activity to help detect money laundering and other illicit activity.

So the true statement is that a CTR is filed for currency transactions exceeding $10,000. It’s not about every transaction, nor limited to deposits under $10,000, nor restricted to international transfers.