Currency Transaction Report (CTR)

According to ACAMS International Glossary of Key Money Laundering Terms and Acronyms, in some countries, including the United States, a cur­rency transaction report (CTR) must be filed with govern­ment authorities when a single currency transaction equal to or more than a certain amount takes place, or when multiple currency transactions within a des­ignated period aggregate to that amount. For exam­ple, in the United States, a single transaction in cur­rency of more than US$10,000, or multiple transactions in currency conducted by or on behalf of the same person aggregating more than US$10,000 within a 24-­hour period, will require the filing of a CTR by the financial institution where it or they are conducted. In the U.S., the form used to report these transactions is FinCEN Form 104 (formerly IRS Form 4789).