Currency Transaction Report (CTR)
Mandatory filing -- FinCEN Form 112 -- triggered MECHANICALLY by any single-day cash transaction (deposit, withdrawal, or exchange) over $10,000 per customer at a financial institution. No judgment required; the threshold is the trigger. Filed within 15 days. Distinct from SAR: CTRs are threshold-triggered and most are uneventful (legitimate large cash deposits); SARs are judgment-triggered for suspicious patterns regardless of amount. Multiple sub-$10K cash deposits designed to evade the CTR (structuring) is itself a federal crime under 31 U.S.C. 5324 and is the classic SAR trigger.
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Related terms
Anti-Money-Laundering (AML) · Investment Policy Statement (IPS) · Know Your Client (KYC) · Onboarding Workflow · Politically Exposed Person (PEP) · Rebalancing Policy
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