If Transactions are Over $3,000, Make a Copy?
Answer by John Burnett, BOL Guru Guru Bios
Question: Our BSA officer requires all tellers to make copies of the cash-in and deposit slip for all transactions either by themselves or aggregate for any cash amount over $3,000. We do have a computer generated report that lists all larger currency transactions that we can use to file a CTR if needed. Are these copies necessary? From what I have learned, no copies are needed as long as you have something in place to track large cash deposits.
Answer: I am reasonably sure your BSA Officer has no desire to make busy-work for you, or for him/herself. I'd recommend that you put the question to the BSA Officer "Can you help me, please, understand why we are asked to make copies of cash-in and out tickets over $3,000 when we have a daily report of larger currency transactions already?" Do you add information such as customer ID information, for example, to the copies that you are asked to make? That information is certainly not on the cash reports and could help immeasurably in completing CTRs.
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