Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

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
Financial education for student body key part of Altura #creditunion, UC-Riverside partnership #NewsNow http://t.co/Xp6OJd66o6
5 minutes ago
.@VTcreditunions gains 200 new FB followers in just 2 wks to reach 1,000 http://t.co/I89xJcv4Jg
35 minutes ago
.@CUNA is testifying on reg relief Tues,July 15 at 2 p.m. be4 Hs Fin Serv Subc. Here is the agenda and witness list: http://t.co/yBRhlmdqHt
3 hours ago
IBEW Local 816 FCU closes.The Paducah, Ky., $6.3 million-asset #creditunion served 929.It's the 6th federally insured CU liquidation of 2014
3 hours ago
.@BankOnOregon recruiting #creditunions for underbanked project via @NWCUA http://t.co/j6MgHbe9F8
4 hours ago