Which of the following acts generally requires the filing of a Currency Transaction Report (CTR) by a financial institution?

Answer options:

A customer deposits a check for $15,000.

A customer deposits $11,000 in cash.

A customer wires $12,000 to a foreign account.

A customer purchases $3,000 in traveler's checks with cash.

How to approach this question

CTR Threshold: > $10,000 in CURRENCY (Cash/Coin).

Full Answer

B.A customer deposits $11,000 in cash.✓ Correct

The Bank Secrecy Act requires financial institutions to file a CTR for any transaction (deposit, withdrawal, exchange) involving more than $10,000 in currency (cash).

Common mistakes

Thinking checks or wire transfers trigger a CTR (they trigger other records, but not a CTR).

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