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

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