Currency Transaction Report Update Webinar
The new CTR report has continued to bring challenges to our industry. In this program we will cover the new FinCEN rule authorizing an exception to the requirements of 31 CFR 1010.311 and 1010.313 regarding the reporting of currency transactions (see complete description below).
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New Currency Transaction Report Changes on Armored Car Service (ACS) and Frequently Asked Questions from FinCEN
The new CTR report has continued to bring challenges to our industry. In this program we will cover the new FinCEN rule authorizing an exception to the requirements of 31 CFR 1010.311 and 1010.313 regarding the reporting of currency transactions. This exception applies only to transactions reportable under 31 CFR 1010.311 that are conducted by an armored car service to debit or credit the account of a financial institution’s customer pursuant to instructions received from the customer or from a third party. We will also review all the FAQs issued by FinCEN. This line-by-line update of the new CTR is a must for your financial institution. Armored car rules effective September 30th! Receive a completely updated CTR Handbook that has over 25 examples of how to complete the CTR.
- How to write adequate procedures to determine whether an ACS is acting from instructions from the financial institution, from the financial institution’s customer, or from a third party
- What to do if you are the reporting financial institution giving instructions for a pick-up
- When will transactions be aggregated for a customer with ACS
- On an ACS when will the institution be able to use the customer’s information
- What does the * really mean on a CTR
- More about line 2 and the role of the person being listed
- When do you check the box aggregated?
- When do you check the box “multiple transactions”?
- When do I use NAICS?
- More on occupation descriptions
- What does FinCEN need for Forms of Identification?
Who Should Attend?
BSA Officers, Tellers, Compliance Officers, BSA CTR staff, Head Tellers, Cashiers and anyone who works with or manages the CTR function.
Click Here for Continuing Education Credits (CEC)
This webinar is recommended for 2.5 CE Credit Hours. Each attendee will receive a Certificate of Attendance for self-reporting of CE Credits.
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INCLUDES SEVEN DAYS OF ONDEMAND PLAYBACK! With this option, you will participate in the webinar (via the internet) as it is being presented. You will login to the webinar on your PC to view the PowerPoint presentation, and you have the option of using your PC speakers or a telephone for the audio. Participants can type and send their questions to the instructor. Many companies are now running their PC through an LCD projector allowing many employees to participate in the same room.
SIX MONTH ONDEMAND VIDEO RECORDING:
With this option, you will receive an e-mail that contains a link to the PowerPoint slides (to download, print, and copy) as well as a link to the media player where you will view and hear the entire webinar just as it was delivered, featuring the full-color PowerPoint presentation with audio. You can pause, fast-forward and rewind as needed, which makes it an effective training tool. The weblink will be available to you (and anyone else in the company) for up to six months and can be accessed 24/7 as many times as you wish. Delivered via e-mail the day after the webinar takes place.
CD-ROM VIDEO RECORDING:
If you do not have internet access or want to make the webinar part of your training library, the CD-ROM Recording is a great option for viewing a webinar. You can pause, fast-forward and rewind as needed, which makes it an effective training tool. With this option, you will receive a download of the PowerPoint slides and a CD-ROM Recording (featuring PowerPoint presentation with audio) of the webinar via regular mail. Mailed 7 to 10 days after the webinar takes place.
Webinars can be scheduled and offered exclusively for your company. They can even be customized to best fit your needs. To find out more, please complete the in-house request form found in the Schedule and Registration Information section below.