New FFIEC Guidance on Currency Transaction Reporting and Handling Different Currency Transaction Reporting (CTRs) Events

Currency transaction reporting seems like a very cut and dry reporting requirements.  While the majority of CTRs may seem easy, what happens when a CTR does not fit the standard? How do you handle joint accounts? What about family trusts? This webinar is perfect for front line staff and BSA departments to understand different situations that arise when determining whether to report or not.  This webinar will provide attendees with the correct filing of CTRs even when different scenarios arise.

In the CTR section, the manual adds a new subsection titled “Identification Required,” regarding what a bank must do to verify and record the identity of an individual involved in a CTR.  This subsection clarifies that a notation of “known customer” or “bank signature card on file” is insufficient; the individual’s specific identifying information must be included in the CTR.

Topics include:

• Review of Currency Transaction Reporting (CTR)
• Best business practices for handling different types of scenarios
• Suggested documentation for your front-line staff in determining when to file

Who Should Attend?

• BSA/AML Officers and Support Staff
• Customer Service Representatives/Tellers
• Call Centers
• Risk Managers
• Compliance Managers
• Internal Auditors
• Executive Management
• Board of Directors