SAR and CTR Reporting Obligations
Chapters in this video
- 0:00 CTR versus SAR: the three dimensions that separate them
- 1:18 CTR threshold and aggregation by direction
- 2:20 Structuring: customer crime, firm files a SAR
- 4:41 SAR threshold, subjective triggers, and attempted transactions
- 6:11 SAR filing clock: initial detection, 30 days, 60-day max extension
- 7:02 Confidentiality, tipping off, and safe harbor limits
- 8:12 Rapid-fire exam recap
What this video covers
- Why a CTR triggers only when physical cash exceeds $10,000 in one business day, and why exactly $10,000 does not count
- How CTR aggregation runs by direction (debits with debits, credits with credits) and why the exam loves to test netting traps
- What structuring is, why it is a federal crime committed by the customer, and why the firm responds with a SAR instead of a CTR
- The five subjective suspicion triggers that turn a $5,000-plus transaction into a mandatory SAR filing, including attempted transactions
- Why the SAR filing clock starts at initial detection of the facts, not the transaction date, and when the 30-day versus 60-day deadline applies
- Who may receive a SAR under strict confidentiality rules, and why tipping off the customer is a federal crime that voids safe harbor protection
- How the Bank Secrecy Act safe harbor shields the firm from civil liability for good-faith SAR filings, but never for tipping off violations
Read the full lesson, free
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