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#658037 - 12/27/06 09:24 PM CTR-two checks cashed
Comply 101 Offline
Platinum Poster
Comply 101
Joined: Jul 2001
Posts: 708
Business customer wrote two checks-one for $6000 to one individual and $8000 to another different individual. They both happen to come into the bank and cash the checks on the same day. They are not employees of the business customer. I say, no CTR. Any thoughts??
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#658058 - 12/27/06 09:41 PM Re: CTR-two checks cashed Comply 101
JacF Offline

Power Poster
Joined: Nov 2001
Posts: 6,719
PA
I agree. Unless you have evidence of a common beneficiary, which doesn't appear to be the case.

That said, this situation is odd enough that it's worth keeping an eye out for repeat transactions.

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#658586 - 12/28/06 07:44 PM Re: CTR-two checks cashed JacF
KerryG Offline
100 Club
Joined: Dec 2006
Posts: 105
WI
I would agree with you. Each beneficiary received less than $10,000 making it not reportable.
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I'm not a lawyer and I don't play one on TV. My opinion is my own and does not constitute legal advice.

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