Once a helpful tool for law enforcement, CTRs have become next to useless in the fight against money laundering, write Greg Baer and Gregg Rozansky, of the Bank Policy Institute. "Debanking" has ...
The Financial Crimes Enforcement Network (FinCEN) published guidance designed to enable depository institutions to more easily determine and document certain business customers’ eligibility for ...
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What really happens when you pull $10k from the bank
Withdrawing $10,000 or more in cash from a U.S. bank account triggers a mandatory Currency Transaction Report (CTR) to the Financial Crimes Enforcement Network (FinCEN). This requirement, established ...
On February 24, 2009, FinCEN released the educational pamphlet, 'Notice to Customers: A CTR Reference Guide,' for financial institutions and their customers containing information on the currency ...
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