Currency Transaction Reporting (CTR) Exemptions 2022 | ProBank Austin | 19 May 2022 | Webinar

With millions of CTRs filed each year, a successful exemption program can reduce the CTR compliance burden imposed on a financial institution, while at the same time providing law enforcement with necessary information to pursue suspicious transactions. The program modifications implemented over twelve years ago streamlined some of the major stumbling blocks found within the previous exemption process, making CTR exemptions more attractive for financial institutions.

Here’s What You’ll Learn:
• The “opportunities” surrounding the Phase 1 – “bank and government” (truly automatic) exemptions;
• The “challenges” found within the Phase 1 – “listed business” exemptions;
• The ingredients and “challenges” associated with the Phase 2 “non-listed business” exemptions;
• The philosophical and logistical differences between the Phase 1 and Phase 2 entities;
• The proper utilization of the Designation of Exempt Person form (DOEP – FinCEN Form 110);
• The due diligence expectations applied to financial institutions utilizing these exemption opportunities; and
• How to identify and report suspicious activity within these exemption categories when appropriate.

This ninety-minute webinar from ProBank Austin will provide the compliance, audit, and sales staffs with a “snapshot” of the current CTR exemption process. In addition, this program complements existing internal education sessions to help meet the annual BSA/AML training requirements for personnel; and it allows time for questions from participants.

Format/instructional Method: Group Internet Based.
An online presentation and any additional supplemental materials, as applicable, will serve as the basis of the presentation. You will have the option to stream the audio through your computer or dial-in using a telephone number/PIN. Ample time will be dedicated to taking questions from attendees. Be sure to submit your questions during the webinar, as we are unable to offer telephone or email support after the presentation.

2022 Speaker

Mark W. Dever
Vice President, ProBank Austin