Under BSA requirements, which information must be maintained in CTR records for mortgage-related cash transactions?
Correct Answer
C) Customer identification, transaction amount, date, and nature of transaction
CTR requirements under 31 CFR 1020.320 mandate recording customer identification information, the transaction amount, date, and nature of the transaction. Suspicious activity indicators are relevant for SARs, not CTRs.
Why This Is the Correct Answer
CTR requirements under 31 CFR 1020.320 mandate recording customer identification information, the transaction amount, date, and nature of the transaction. Suspicious activity indicators are relevant for SARs, not CTRs.
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