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#760830 - 06/26/07 03:16 PM CTR?
hawkfan Offline
Member
Joined: Feb 2006
Posts: 83
Here is a fun one. One of our customers was selling a plane to a buyer from Canada. They met here and came in to the branch. The Canadian was trying to wire the money ($14,000), but wouldn't get here until the end of the day. So they did a cash advance (technically cash out), then bought a CC, then our customer cashed the CC and walked out of the bank. We do not sell CC to non-customers, but an exception was made for this. Forget the OFAC risk of dealing with a non-customer. After all that, all I can see that we need to file is a CTR on our customer - do you agree?

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#760919 - 06/26/07 04:02 PM Re: CTR? hawkfan
GLKS Offline
Gold Star
Joined: Nov 2006
Posts: 344
I agree. The Canadian never actually brought cash in or out.

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#760921 - 06/26/07 04:05 PM Re: CTR? hawkfan
JacF Offline

Power Poster
Joined: Nov 2001
Posts: 6,719
PA
I agree.

The cash advance may show as a cash out on your system, but in reality, you were simply using "cash" as suspense for the check purchase, without actually getting currency involved at that point.

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