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can be generated by banks to assist them in the fight against money laundering. Following are some internal reports routinely available through bank service providers. Cash Transaction Reports - Most bank information service providers offer reports that identify cash activity and/or cash activity greater than $10,000. These reports assist bankers with filing currency transaction reports (CTRs) and in identifying suspicious cash activity. Some larger banks have software systems to assist them in completing CTRs accurately, especially when they have multiple locations. Most vendor software systems include standard suspicious cash activity reports that typically filter cash activity in three forms: 1) cash activity including multiple transactions greater than $10,000; 2) cash activity (single and multiple transactions) just below the $10,000 reporting threshold (e.g., between $8,000 - $10,000); and, 3) cash transactions involving multiple lower-dollar transactions (e.g., $3,000) which over a period of time (e.g., 15 days) aggregate to a substantial sum of money. Such filtering reports, when implemented either through the purchase of a vender software system or through requests from the information service provider, will enhance significantly a bank’s ability to identify and evaluate unusual cash transactions.
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GAFM ® * As seen in the TUV, US Government Occupational Handbook and the U. S. Department of Labor, Employment and Training Administration Certification Guides.
A Message from the GAFM Chairman -Dr.jur. George Mentz on Global Standards and Accredited Education
For the CWM Chartered Wealth Manager ® Institute of Singapore and Hong Kong, please visit www.AAFMAsia.com
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"If you place one seed of truth on a particular side of the cosmic scale, it can sway the entire balance of power in a new direction". - Dr. Jur. George Mentz Editor of the Magazine of Wall Street Est. 1907 www.magazineofwallstreet.com
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