Currency Transaction Reports (CTRs)

Currency Transaction Reports (CTRs) are official documents that financial institutions must file with government authorities when a customer deposits or withdraws more than $10,000 in cash within a single day. These reports help authorities monitor large cash transactions to prevent money laundering, fraud, and other illegal activities. Essentially, CTRs provide a record of significant cash movements, ensuring transparency and helping law enforcement detect suspicious financial activity. They are a key part of the regulatory framework to maintain the integrity of the financial system.