Posts Tagged ‘CTR’

To file or not to file: A CTR refresher

To file or not to file: A CTR refresher

Occasionally, the compliance team receives questions about interesting transactions conducted by members and whether a Currency Transaction Report (CTR) is required. Credit unions take their BSA/AML requirements seriously and are sometimes tempted to file [...]

Do we need to file a CTR for nonmembers?

Do we need to file a CTR for nonmembers?

A nonmember walks into a credit union’s branch in location A and completes a wire transfer for $6,000 to John Smith. Later that day, the same nonmember visits a different branch – in location [...]

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