Are your CTRs perfectly completed? With nearly 60 fields to populate, the opportunities for mistakes are vast and varied. The best way to learn all the pertinent details is with line-by-line instruction. This webinar will provide just that for individual, joint, and business/organization accounts.
AFTER THIS WEBINAR YOU’LL BE ABLE TO:
- Distinguish between deposit and withdrawal reporting for joint accounts
- Account for reportable deposit and withdrawal transactions on the same CTR
- Recognize required field information
- Differentiate between multiple and aggregated transactions
- Distinguish between filing institution information and transaction location
With five pages and over 57 fields to complete, crafting an accurate Currency Transaction Report (CTR) is challenging. Even if your data processing system helps you, the wrong user input can land your institution in hot water with examiners, auditors, and the Financial Crimes Enforcement Network (FinCEN). Learning what goes into each field and what is acceptable information is a good start to creating error-free reports.
This webinar will tackle CTR reporting on individual, joint, and business or organization accounts. You’ll learn which fields are mandatory (although all are important) and get FinCEN guidance and FAQs, including recent updates and best practices. Unusual scenarios that can stump even seasoned filers will be included, such as when a person has multiple roles in one or more transactions, reporting related to accounts held in a fiduciary capacity, and more.
WHO SHOULD ATTEND?
This informative session is designed for staff responsible for completing CTRs, including tellers, financial services consultants, BSA staff, branch managers and supervisors, and compliance and audit staff.
- Frequently asked questions and answers
- Internet links for CTR reference materials and additional FAQs
- Employee training log
- Interactive quiz
SPEAKER: Mary-Lou Heighes, Compliance Plus, Inc.
Mary-Lou Heighes is President and founder of Compliance Plus, Inc., which has assisted financial institutions with the development of compliance programs since 2000. She provides compliance training for trade associations and financial institutions. Mary-Lou has been an instructor at regulatory compliance schools, conducts dozens of webinars, and speaks at numerous conferences throughout the country.
Involved with financial institutions since 1989, Mary-Lou has over 25 years’ compliance experience. Before starting Compliance Plus in 2000, she spent five years working as a loan officer, marketer, and collector. She also worked at a state trade association for seven years providing compliance assistance and advising on state and federal legislative issues that affect financial institutions.