When it comes to BSA Compliance - If a member/customer withdraws $10K each day for 3 consecutive days, in what circumstance would one not think this is a reportable suspicious activity?
I was offered a $25 bribe not to file a CTR. What should I do when this happens?
I have a BSA question about Phase I exempt customers. I know that Phase II customers' savings accounts can't be exempted, but what about Phase I customer savings accounts? At my institution we have a government entity but they only hold savings accounts with us. Would they still be considered Phase I exempt in our institution at all? And if so, would we have to perform a yearly review on them?
What is the proper way of reporting the beneficiaries of the following cash
in deposits in a CTR. The TIN number for all is the same #11-1111111.
XYZ Corporation (6 accounts*) $11100
XYZ Corporation dba Café,LLC (Acct 9999) $1000
XYZ Corporation dba Bake LLC (Acct 888) $600
* There is no dba in the title of the 6 accounts.
Do I need to report 3 beneficiaries to show the actual amount of cash deposited to the accounts?
Is it okay to report XYZ Corp dba Café LLC (6 accounts including acct #9999) $12100 and XYZ Corp dba Bake LLC (acct #888) $600?
The city's chamber of commerce made a deposit for over $10,000. Is a chamber of commerce an automatic exemption or do we need to file a CTR?
Is the Currency Transaction Report 104 a part of the Anti Money Laundering documents that needs to be signed by an Attorney?
Please explain aggregated transactions. I have a business and with three cash deposits all under the reporting limit. One transaction is done by a person and the other two are night deposits. Would I have to mark off aggregated on the CTR?
We have a customer that deposited into two accounts in which she is an owner; a business with another owner ($4,500.00) and a personal account ($5,900.00). The total cash was over $10,000.00. Does the second owner on the business account need to be reported on the CTR?
Are Federal Credit Unions automatically exempt?
If a government agency (DEA) sends a representative to purchase an Official Check do we need to get the identifying information on the government representative?