Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
CTR reporting pamphlet issued by FinCEN
WASHINGTON (3/4/09)--The Financial Crimes Enforcement Network (FinCEN) has released a pamphlet on currency transaction reporting (CTR) as required by the Bank Secrecy Act. The pamphlet, “Notice to Customers: A CTR Reference Guide,” explains why financial institutions must require identification and personal information for transactions that trigger CTR, defines “structuring”--breaking up currency transactions to avoid reporting them to the government--and provides examples of structured transactions. Federal law requires financial institutions to report currency transactions over $10,000 conducted by or on behalf of one person, and multiple currency transactions that aggregate to be more than $10,000 in one day. The federal law requiring these reports was passed to safeguard the financial industry. To see the pamphlet, use the link.
Other Resources

RSS





print
News Now LiveWire
.@daytondailynews : The secret is out about #creditunions http://t.co/Aqu3pFTROV @DayAirCU @CODECreditUnion
15 minutes ago
.@CUNA's @Nussle on @SenatorReid :(2of2)On behalf of more than 102M #CU members,I thank him 4 his leadership over the yrs/wish him the best.
2 hours ago
.@CUNA CEO Nussle on Sen. Reid’s decision not 2 seek re-election (1of2): Sen. Reid has a long history of #CU support throughout his career.
2 hours ago
#Jobless claims duck under 300K for 3rd straight week #Market #Economy http://t.co/jOsZWf9HNJ
2 hours ago
62% worry about financial stability: @CUNAMutualGroup study http://t.co/5jCM1I1hnA
3 hours ago