We have a customer who is Phase 1 - exempt. A non-customer makes a cash deposit of $11,000 into the Phase 1 customer's account. A CTR would be generated on the individual making the cash deposit. However, the benefitor would be the Phase 1 exempt customer eventhough they are exempt? Thanks........
A governmental taxing authority authorizes the bank to receive direct payments from customers for deposit into their account? That is a little unusual.
However, the deposit would be exempt.
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