CTR or not?

Posted By: AuditorK

CTR or not? - 10/07/11 07:44 PM


On the same business day, the following transactions occur on XYZ Inc's account:

(1) "Person A" deposits 10 checks to XYZ's account and takes $50 in quarters back for the business to use for change

(2) "Person B" cashes a $2,500 check drawn on XYZ and payable to "Person B"

(3) "Person A" cashes 16 payroll checks drawn on XYZ's account on behalf of XYZ employees (total $13,000) and takes the cash back to give to the employees.

Complete a CTR and if so, for what amount?
Posted By: BrendaC

Re: CTR or not? - 10/07/11 07:54 PM

Person A hit the trigger for $13,050 cash out. Business benefited from $50 cash out and Person A for $13k (or each check payee, depending on your policy/procedure). Person A conducted.