Post

BSA/AML: Exempting Customers from CTR Reporting

Description: BSA/AML: Exempting Customers from CTR Reporting explains the reasons why banks are permitted to exempt certain business customers from CTR reporting. This course explains both phases of the exemption process and the information that is needed. It lists the business entities that are not eligible for exemption from CTR reporting. This course also discusses the reasons for possible decisions to revoke customer exemptions.

 

Audience: Any bank employees who need an understanding of the exemption process.

 

Learning Objectives: After completing this course, students will be able to:

  • Describe why reporting exemptions advance BSA policy
  • Explain the division between exemption “Phases” and the conditions for obtaining exempt status
  • Identify changes in business behavior that can cause loss of exemption

Commands