Series 66: Currency Transaction Reports (CTRs) And Suspicious Activity Reports (SARs)

Taken from our Series 66 Online Guide

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Currency Transaction Reports (CTRs) and Suspicious Activity Reports (SARs)

The Bank Secrecy Act requires financial institutions must keep or report the following:

  • • Monetary Instrument Log (MIL)—A financial institution must keep a record of cash purchases of negotiable instruments between $3,000 and $10,000. This record is kept in a monetary log.
  • • Currency Transaction Report (CTR)—A firm must send a report to FinCEN (a department of the Treasury) of cash transactions that exce
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