Currency Transaction Report
Subject: Banking | Topics:

The money exchange report was started by the Bank Secrecy Act in 1970. In any case, not all exchanges of $10,000 and more need to reported with a Currency Transaction Report. A bank should electronically document a Currency Transaction Report (CTR) for every exchange in currency (store, withdrawal, trade, or other installment or exchange) of more than $10,000 by, through, or to the bank.

Related Banking Paper: