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Negotiable Instrument Log Entry

Answered by: 
Randy Carey

Question: 
When completing a negotiable instrument log entry for a cash purchase on behalf of a company, is the information recorded that of the company or the individual employee who conducted the transaction (this would be a non-CTR reportable transaction)?
Answer: 

You are required to obtain the required recordkeeping information from the purchaser. In this case, the purchaser is the person standing in front of you at the teller line handing you the cash. This is regardless of whether they request that a different person or entity be listed as the remitter on the monetary instrument being purchased.

First published on BankersOnline.com 6/15/09

First published on 06/15/2009

Filed under: 
Security
Filed under security as: 
Employee

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