Aggregation of Currency Transactionsįor the purposes of currency reporting requirements, a bank includes all of its domestic branch offices 5.
The mere notation of “known customer” or “bank signature card on file” on the report is prohibited.
Currency transaction report casino license#
, the driver’s license number) used in verifying the identity of the customer must be recorded on the report. In each instance, the specific identifying information (e.g. A bank signature card may be relied upon only if it was issued after documents establishing the identity of the individual were examined and notation of the specific information was made on the signature card.
Currency transaction report casino verification#
Verification of identity in any other case must be made through a document, other than a bank signature card, that is normally acceptable as a means of identification when cashing checks for nondepositors (e.g., a driver’s license or credit card). Verification of the identity of an individual who indicates that he or she is an alien or is not a resident of the United States must be made by passport, alien identification card, or other official document evidencing nationality or residence (e.g., a provincial driver’s license with indication of home address). Identification RequiredĪ bank must verify and record the name and address of the individual presenting a transaction, as well as record the identity, account number, and Social Security or taxpayer identification number, if any, of any person or entity on whose behalf such a transaction is conducted. Refer to the Transactions of Exempt Persons section for more information. These currency transactions need not be reported if they involve “exempt persons,” a group which can include commercial customers meeting specific criteria for exemption. (deposit, withdrawal, exchange of currency, or other payment or transfer) of more than $10,000 by, through, or to the bank. Forms to be used in making reports of currency transactions may be obtained from BSA E-Filing System (. Effective July 1, 2012, FinCEN mandated electronic filing of certain BSA reports, including the CTR. 100(m) defines currency as coin and paper money of the United States or any other country that is designated as legal tender and that circulates and is customarily used and accepted as a medium of exchange in the country of issuance. Specifically, this section covers:Ī bank must electronically file a Currency Transaction Report (CTR) for each transaction in currency 1. This section outlines the regulatory requirements for banks found in 31 CFR Chapter X regarding reports of transactions in currency.
Regulatory Requirements for Currency Transaction Reporting
Additionally, DSA found that Gaming Instruments were the prevalent instrument used in a variety of suspicious activities including Suspicious Wires and Transactions with No Apparent Economic Purpose.Objective: Assess the bank’s compliance with the BSA regulatory requirements for currency transaction reporting. Cashier’s Check, Gaming Instrument, Cash, etc) is added to the Suspicious Activity Type, DSA found that US Currency is most often combined with Minimal Gaming with Large Transactions. Other leading suspicious activities include: Suspicion concerning the source of funds, Multiple transactions below CTR threshold, and Altering transactions to avoid CTR reporting. The analysis identified “Minimal Gaming with Large Transactions” as the leading suspicious activity type. There were 8,028 SARs filed in Clark County through August 2017. (‘DSA’) prepared the analysis below of 2017 Casino SAR filings for Clark County, Nevada. Multiple media outlets have reported that the gunman responsible for mass shooting in Las Vegas was the subject of over 200 Currency Transaction Reports (‘CTR’) and/or Suspicious Activity Reports (‘SAR’) filings.ĭynamic Securities Analytics, Inc.
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