Currency Transaction Report (CTR)
A threshold-based currency-transaction filing required when a single or aggregated cash transaction exceeds a regulatory cap - the US benchmark is $10,000.
Definition
A Currency Transaction Report (CTR) is a threshold-based filing - distinct from a SAR's suspicion-based filing - that obligated entities submit when a single cash transaction, or aggregated cash transactions over a defined window, exceeds the regulatory threshold. The flagship example is the US CTR regime: every cash transaction over $10,000 (or aggregated transactions within 24 hours) must be reported on FinCEN Form 112.
EU equivalents
The EU has historically lacked a uniform CTR-equivalent, leaving member states to define their own thresholds (France's Tracfin déclaration systématique, Italy's COSPL). The EU AML Regulation harmonises a €10,000 cap on cash payments and codifies aggregation rules.
Why <a href="/glossary/structuring">structuring</a> exists
CTRs are the most consequential anti-laundering reporting regime by volume. They are also the regime that most directly motivates smurfing and structuring - which is itself criminalised precisely because CTR evasion is the obvious next move.
Operational implications
- Aggregation rules across branches and channels are usually the failure point.
- Crypto cash-on/off-ramps face equivalent thresholds in some jurisdictions (e.g. FinCEN's CVC rule).
- Quality of CTR data - particularly identification of the conductor and beneficiary - is critical for downstream FIU analytics.