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2 Deposits in 2 Accounts on the Same Day, CTR?

Answered by: 
John Burnett

Question: 
If a customer deposits money into a personal account and then a corporate account on the same day (over $10,000) are banks required to file a CTR?
Answer: 

If the financial institution is aware or becomes aware that multiple currency transactions by or on behalf of the same person on a business day exceed $10,000, the institution must file a CTR, assuming that no exemptions are involved; therefore, the answer to your question is, yes. The same person completed both transactions.

First published on BankersOnline.com 10/23/06

First published on 10/23/2006

Filed under: 
Security
Filed under security as: 
Currency

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