On February 24, 2009, FinCEN released the educational pamphlet, 'Notice to Customers: A CTR Reference Guide,' for financial institutions and their customers containing information on the currency ...

Transactions over $10,000 trigger a currency transaction report under the Bank Secrecy Act. Structuring deposits to avoid reports can still alert banks and lead to a possible suspicious activity ...

It is the product of an opaque bank examination regime that pressures banks to close certain customer accounts, ostensibly in the name of managing financial crimes risk. One component of that regime ...

"And when illicit money moves, it’s these BSA reports," she said "that tell us the story.” IRS-CI special agents ran an average of 966,900 searches annually against currency transaction ...

They also complete FinCEN Form 104, known as the Currency Transaction Report (CTR). These measures aim to spot potential money laundering or other financial crimes.

Under the Bank Secrecy Act, money service businesses are required to report each transaction involving more than $10,000 in currency. Failure to report is a federal crime.

Reporting Rules Under current rules, financial institutions, including banks, must file Currency Transaction Reports (CTRs) when they accept $10,000 or more in cash in a single day.