Learn the nuts and bolts of Currency Transaction Reporting and the processes and procedures for filing CTRs.
United States financial institutions are required to file Currency Transaction Reports for transactions involving more than $10,000. This requirement was created with the passage of the Bank Secrecy Act in 1970.
Today, transactions of more than $10,000 are far more common. Customers may not understand why the bank is reporting information about their transactions to the government. This presentation will help banking executives, employees who interact with customers, and regulators regarding CTRs understand the history and rationale for the reporting requirements, the structure of the Bank Secrecy Act, and the important role banks play in combatting illicit finance.
Agenda
Faculty
Ian A. Herbert
Miller & Chevalier Chartered
Ian Herbert
- Counsel at Miller & Chevalier Chartered in Washington, D.C.
- Represents global companies, financial services companies, and executives through government investigations and related investigations, focusing on a range of issues such as bribery, tax fraud, money laundering, and financial crimes
- Experienced engaging with the Department of Justice (DOJ), Securities and Exchange Commission (SEC), and other federal and state regulators
- Writes regularly on issues related to white-collar criminal enforcement and money laundering and is an editor of both the Executives at Risk newsletter, which reports on noteworthy cases and investigations impacting corporate executives, and the Money Laundering Enforcement Trends newsletter, which focuses on developments in money laundering regulation and enforcement
- J.D., New York University School of Law, 2012; B.A., University of Michigan, 2005
- [email protected]; 202-626-1496
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