A Currency Transaction Report is required for which transaction?

A Currency Transaction Report is required for which transaction?

• A. A cash withdrawal for $10,000
• B. An outgoing wire transfer for $12,000
• C. A cash deposit for $11,500
• D. A cash deposit for $9,500

Answer: (C)

Currency Transaction Reports are triggered by cash transactions that exceed ten thousand dollars in a single transaction or in related transactions within a 24-hour period. This helps financial institutions monitor large cash activity for potential money laundering. The cash deposit of eleven thousand five hundred clearly crosses the threshold, so a CTR must be filed. A cash deposit of nine thousand five hundred stays below the limit, so it wouldn’t require a CTR on its own. An outgoing wire transfer is not a cash transaction, so it isn’t covered by CTR reporting. A cash withdrawal of ten thousand dollars sits at the threshold but does not exceed it in a single transaction, so it wouldn’t, by itself, require a CTR (though related transactions could push it over the limit).

Currency Transaction Reports are triggered by cash transactions that exceed ten thousand dollars in a single transaction or in related transactions within a 24-hour period. This helps financial institutions monitor large cash activity for potential money laundering. The cash deposit of eleven thousand five hundred clearly crosses the threshold, so a CTR must be filed. A cash deposit of nine thousand five hundred stays below the limit, so it wouldn’t require a CTR on its own. An outgoing wire transfer is not a cash transaction, so it isn’t covered by CTR reporting. A cash withdrawal of ten thousand dollars sits at the threshold but does not exceed it in a single transaction, so it wouldn’t, by itself, require a CTR (though related transactions could push it over the limit).