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#1096974 - 12/13/08 12:26 AM CTR Error Ratio
Need Help Offline
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Las Vegas, NV
What is considered an acceptable error ratio for CTRs?

Thanks.

bb

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#1096995 - 12/13/08 03:52 AM Re: CTR Error Ratio Need Help
rlcarey Offline
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#1097185 - 12/15/08 03:07 PM Re: CTR Error Ratio rlcarey
Becky Offline
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While I know we all stive for 0 errors, life doesn't always quite work that way. We recently had internal audit do a CTR audit, we had less than 1% error ratio, and it was considered acceptable by our audit staff.

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#1097415 - 12/15/08 06:44 PM Re: CTR Error Ratio Becky
BrendaC Offline
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I would probably be more concerned about the nature of the errors than the overall percentage of errors. I would not lose much sleep over a typo on a street address, but I would be very concerned about failure to properly aggregate deposits or identify all of the beneficiaries of a reportable transaction.
Errors of this nature could be the basis for a serious discussion with your regulator.
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#1099204 - 12/18/08 12:31 AM Re: CTR Error Ratio BrendaC
BSA4LIFE Offline
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We consider a 1% error ratio acceptable for our branches. But we have a 0% error ratio for the actual CTRs that are filed to FinCEN.

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#1102506 - 12/26/08 06:50 PM Re: CTR Error Ratio BSA4LIFE
Pointers Rock Offline
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Originally Posted By: BSA4LIFE
We consider a 1% error ratio acceptable for our branches. But we have a 0% error ratio for the actual CTRs that are filed to FinCEN.


I agree, I caught many errors. We used two aggregation methods and they didn't always agree, so I would investigate and find which was right, make the correction and make note of it in case there were questions later. As long as the errors are caught before they leave the bank, I don't think they should count as true errors.
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#1103606 - 12/30/08 04:09 PM Re: CTR Error Ratio Pointers Rock
kjbabington Offline
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Ratios can also be misleading, depending on how many CTRs you actually file. I report our error ratio monthly to a bank committee, this includes internal errors found that are corrected prior to filing. This number varies as what is acceptable, based on how many CTRs are filed in total.

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