Mrs. Evans, a customer of First National Bank, deposits $15,000 in cash to her account. During the transaction, Mrs. Evans explains that she received the money in the mail from her sister in Europe. What responsibility does the bank have?
A.
Complete a Currency Transaction Report (CTR)
B.
Complete a United States Customs form 4790 (CMIR)
C.
Complete both a currency transaction report and a CMIR
D.
Complete a CTR and encourage Mrs. Evans to file a CMIR
The bank should complete a Currency Transaction Report (CTR) for any cash transaction exceeding $10,000 and encourage Mrs. Evans to file a Currency and Monetary Instrument Report (CMIR) with the United States Customs and Border Protection (CBP) if she transported the currency into the United States from a foreign country.
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Cam22
4 months ago