What is the threshold amount for transactions that require a Currency Transaction Report (CTR)?

The requirement to file a Currency Transaction Report (CTR) is triggered by any cash transaction that exceeds $10,000. This threshold is established by the Bank Secrecy Act (BSA) regulations, which aim to monitor large cash transactions that could be indicative of money laundering or other illicit activities. By requiring a report for transactions over this amount, financial institutions can help government agencies track potentially suspicious financial behavior.

Transactions of $10,000 or more must be reported in order to ensure transparency in large cash dealings and to prevent financial crimes. It's important for institutions to be vigilant about these large transactions, as they pose a higher risk for money laundering and other nefarious activities compared to smaller amounts. Understanding this reporting threshold is crucial for compliance with the BSA and for maintaining the integrity of the financial system.