TOPIC: Software

Blog | Deconstructing the Currency Transaction Report - Read the complete blog

Deconstructing the Currency Transaction Report
How, when and why was the $10,000 threshold established?

February 18, 2020 by Jim Richards

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It is estimated that around 18 million Currency Transaction Reports (CTRs) were filed with FinCEN in 2019. Each CTR reports one or more cash transactions made by or on behalf of any person aggregating more than $10,000.

The $10,000 cash transaction threshold, first established in 1972, is still in place today, almost fifty years later. But how and why was this transaction reporting threshold created? How did the Treasury Department first settle on $10,000 as the reporting threshold?

In the second installment of Jim Richards’ 2020 blog series, he takes us through the timeline of events that led to the CTR threshold, and the impact each event had on that threshold.

The CTR is rooted in over 100 years of AML history. Read the complete blog to learn more.

Read the complete blog

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