BankerCollege

Currency transaction reporting seems like a very cut and dry reporting requirements. However, bank and credit union employees confront challenging situations all the time that can put CTR compliance at risk. Some examples of these unusual CTR events include:

• While the majority of CTRs may seem easy, what happens when a CTR does not fit the standard? 
• How do you handle joint accounts? 
• What about family trusts? 

New FFIEC Guidance Issued!

Complicating the CTR process now, is that, in the CTR section, the FFIEC manual adds a new subsection titled “Identification Required,” regarding what a bank must do to verify and record the identity of an individual involved in a CTR.  This subsection clarifies that a notation of “known customer” or “bank signature card on file” is insufficient; the individual’s specific identifying information must be included in the CTR.

This compliance webinar is perfect for both front line staff and BSA departments to understand different situations that arise when determining whether to report or not, and how to correctly file CTRs even when different scenarios arise.  

Topics include:

• Review of Currency Transaction Reporting (CTR)
• Best business practices for handling different types of scenarios
• New FFIEC revisions you must know
• Suggested documentation for your front-line staff in determining when to file

Who Should Attend?

• BSA/AML Officers and Support Staff
• Branch management
• Customer Service Representatives
• Tellers 
• Call Centers
• Electronic Banking 
• Risk Management 
• Deposit Operations
• Compliance 
• Internal Audit
• Information Security 
• Executive Management