Bank Secrecy Act for Frontline Employees: 01. What Are Currency Transaction Reports?
7 min! Run Time
Employees
only
Provided
What you'll learn
Skills covered in this course
Description
The best way to fight money laundering is to stop dirty money before it enters the financial system, and the currency transaction report (CTR) is a key tool for doing that.
What this course covers:
- What currency transaction reports (CTRs) are and how they work
- When a CTR is required
- Where CTRs are filed and who receives them
- The information you must record and keep
Ideal for tellers and frontline banking staff new to Bank Secrecy Act requirements.
System Requirements
See System Requirements in the Coggno Knowledge Base
Author
Frequently Asked Questions
The course explains what currency transaction reports, or CTRs, are and how they work, describing them as a key tool for stopping dirty money before it enters the financial system through large, reportable cash transactions at a bank.
This module covers when a CTR is required, giving frontline staff the trigger points that determine whether a transaction needs to be reported so they can recognize the threshold moment during a routine customer interaction at the teller line.
The course explains where CTRs are filed and who receives them, clarifying the destination and handling of the report once it leaves the institution and enters the government's broader anti-money laundering tracking and investigation system.
Learners are shown the information they must record and keep for a CTR, laying the foundation before the next course in the series walks tellers through actually completing and filing the report from start to finish.
This course suits tellers and frontline banking staff who are new to Bank Secrecy Act requirements and need to understand what CTRs are before moving on to the follow-up course covering how to file them.
