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#1375019 - 04/15/10 11:43 PM MSB needs to file CTR - tell them?
WonderWoman Offline
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WonderWoman
Joined: Mar 2007
Posts: 2,108
gone fishin'
I was notified a MSB told a teller they cash paid a check for a friend for over $10,000.

Because this is a small mom & pop shop, I'm guessing they haven't filed a CTR on their friend (even though I have provided documentation to them about the requirements of a MSB).

Is it my responsibility to make sure this CTR has been completed?
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BSA/AML/CIP/OFAC Forum
#1375042 - 04/16/10 03:13 AM Re: MSB needs to file CTR - tell them? WonderWoman
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 83,418
Galveston, TX
No, but if they are engaging in activity that would require CTR filing, part of your due diligence might involving making sure that have BSA/AML procedures in place.
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#1376662 - 04/19/10 07:30 PM Re: MSB needs to file CTR - tell them? rlcarey
What?? Offline
100 Club
What??
Joined: Feb 2007
Posts: 170
California
We maintain a Anti-Money Laundering Certification Form in all of our MSB files to ensure they have a Money Laundering Program to include CTRs, SARs, etc.

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