Which entities are examples of those required to file Currency Transaction Reports (CTR)?

• A. Individuals
• B. Municipalities
• C. Brokers and dealers and money services
• D. Non-profits

Answer: (C)

Currency Transaction Reports are required when a financial institution handles a cash transaction above the $10,000 threshold. Brokers and dealers in securities and money services businesses fall into the category of entities that regularly deal with large amounts of currency and are regulated to file CTRs under the Bank Secrecy Act. They may move, exchange, or transmit money, so the reporting helps authorities detect and prevent illicit activity.

Others like individuals, municipalities, or non-profits aren’t the entities responsible for filing CTRs. The obligation rests on the institutions that handle the cash transactions, not on the customers themselves. For example, if a person makes a cash deposit over $10,000, the bank files the CTR, not the depositor.